If you’re looking for a real-life fairy tale then you’ll be glad to know that the Walt Disney Company (DIS) is launching multiple residential neighborhoods across the US under its Storyliving by Disney brand.
The first neighborhood will be created in Rancho Mirage, California's Coachella Valley, where Walt Disney himself owned a home. It will have around 1,900 residential units on a 618-acre site, which are yet to be priced by the homebuilder. The site includes a public mixed-use district including shopping, restaurants, entertainment, a hotel, and a beach park is planned. Residents aged 55 and up will be assigned to specific neighborhoods.
Disney Imagineers will play a significant part in establishing the creative concept for the communities. The company says the communities are designed to encourage people to form new friendships and follow their passions. Sounds a bit ambitious… the pandemic has taken away our ability to form friendships, remember?
Don’t expect to see your favorite characters delivering your morning paper. Instead, Disney will be offering fitness programming, entertainment ranging from live performances to cooking classes, charity events, and conferences as part of a club membership.
Why it matters
Disney's Storyliving isn't the company's first real estate venture. Celebration was first announced to the public in 1991 with construction starting in 1994. There were lots of homes, schools, shopping, and dining options in the master-planned community but Celebration was eventually sold to private investors when Disney let it go in 2004.
