Walt Disney Co. (DIS.N) will collaborate with property developers to construct residential communities in the United States, capitalising on fans’ love for the brand outside its theme parks and entertainment operations.
Cotino, a residential neighbourhood in Rancho Mirage, California, featuring 1,900 housing units including single-family houses and condominiums, was launched by Disney on Wednesday. A 24-acre lagoon will be surrounded by shops and a seaside hotel. Some areas will be designated for inhabitants aged 55 and up.
Disney fans adore the company’s meticulous attention to detail and complex escapist experiences. The business hopes to generate a similar magic in residential communities, which it claims would expand storytelling to “storyliving.”
Employees will run a community association that offers entertainment, activities, beach access, and Disney programming. Disney park designers will develop the creative concepts for the communities, drawing inspiration from each region, and employees will run a community association that offers entertainment, activities, beach access, and Disney programming.
Storyliving by Disney, the company that owns Disneyland and Disney World, was founded to create master-planned communities in collaboration with landowners, developers, and home builders. DMB Development is working on the Cotino project.
Celebration, a master-planned community in Florida established by Disney in the 1990s and given over to its residents, is a model for this endeavour. More recently, Walt Disney World Resort completed Golden Oak, a luxury residential complex with a private clubhouse and a variety of facilities, including golfing.
Those older resort villages are in close proximity to Walt Disney World. According to a Disney spokeswoman, the upcoming residential buildings would have no theme park connections and will be designed to reflect the history and art of the communities in which they are built.
In a statement released Wednesday, Disney parks Chairman Josh D’Amaro stated, “As we prepare to approach our second century, we are inventing new and exciting methods to convey the enchantment of Disney to people wherever they are.”
A Disney representative declined to reveal how much money the company expects to put into the residential project.
Construction and pricing will be handled by developers and home builders. Disney will be in charge of marketing as well as running the volunteer club.
