Feb 22

Disney to Build Themed Housing Development

Disney to Build Themed Housing Development

The Walt Disney Company is bringing “Storyliving by Disney” to those who want to live out the Disney magic beyond the silver screen. It announced it will be building a housing development in Southern California—the first of what they plan to be many across the U.S.

The development, to be built in collaboration with DMB Development, will be located in Rancho Mirage, Calif., and will be constructed on a 24-acre “grand oasis featuring clear turquoise waters with crystal lagoons,” a release announces, adding in that will be built sustainably with low water consumption. The planned neighborhood will be called Cotino. No dates were provided for its opening.

According to the press release, Cotino will welcome homeowners of all ages, with one section of the development tailored to the 55-plus age group. The development will feature estates, single-family homes, and condos.

Disney cast members trained in the company’s guest service will operate the community association. Also, voluntary club memberships will be available to residents for accessing a waterfront clubhouse, club-only beach area, recreational water activities, and Disney programming and entertainment throughout the year, such as live performances, cooking classes, and more.

“For nearly 100 years, Disney has shared stories that have touched the hearts and minds of people all around the world,” Josh D’Amaro, chairman of Disney Parks, Experiences and Products, said in a release announcing the new development. “As we prepare to enter our second century, we are developing new and exciting ways to bring the magic of Disney to people wherever they are, expanding storytelling to storyliving. We can’t wait to welcome residents to these beautiful and unique Disney communities where they can live their lives to the fullest.”

Disney said additional locations for future developments are currently being explored.

Disney has gotten into residential real estate in the past. Disney has sold luxury vacation homes through a 980-acre gated Golden Oak community in Florida. Also, in 1996, Disney developed a 5,000-acre residential community known as Celebration, Fla., about 20 miles outside of Orlando. Disney has since divested most of its interest in the development, The Wall Street Journal reports. Source: The Walt Disney Company and “Disney Adults Never Have to Grow Up With New ‘Storyliving’ Residential Housing,” New York Post (Feb. 16, 2022)

©National Association of REALTORS®
Reprinted with permission

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