Walt Disney Company building themed residential housing development

The Walt Disney Company has announced it’s building a housing development in Southern California based around the theme of “Storyliving by Disney”.

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The development is being built through a collaboration with DMB Development and will be centered on a 24-acre “grand oasis” that features clear turquoise waters and crystal lagoons. Disney promises those features will be built sustainably, with low water consumption. It will be located in Rancho Mirage, Calif., and the neighborhood itself will be known as “Cotino”.

The Cotino development will be built to suit homeowners of all ages, with one section tailored for those aged 55 and up. There will be various estates, single-family homes and also condos in the development.

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,” said Josh D’Amaro, chairman of Disney Parks, Experiences and Products. “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.”

Assuming the development proves to be a hit, Disney said it is already exploring additional locations for future developments.

Disney has gotten into residential real estate in the past, the New York Post reported. 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. It has, however, divested most of its interest in the development since then.

About Mike Wheatley

Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at [email protected]

Comments

  1. So I am hearing they are charging $380 a square ft., so for a 2000 ft. house, it will be $760K.

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