Disney To Start Offering Residential Communities

(PresidentialInsider.com)- Last week the Walt Disney Company announced it was launching “Storyliving by Disney” a new venture to develop residential communities throughout the country.

According to Disney, the first of their new master-planned communities will be developed in Rancho Mirage, California. But the company has additional locations around the United States which are also under consideration for possible development.

Disney said these master-planned communities are designed to “inspire residents to foster new friendships, pursue their interests, and write the next exciting chapter in their lives.”

No word on whether the communities will be stocked with animals trained to flock to a resident’s side every time she bursts into song.

Disney chose Rancho Mirage in honor of the late Walt Disney who once owned a home in the area. The Rancho Mirage development will be named “Cotino, a ‘Storyliving by Disney’ Community.” It will feature large estates, single-family homes, and condominiums. It will also feature neighborhoods exclusively for people over 55. The Cotino community, however, will not include rental units.

“Cotino, a ‘Storyliving by Disney’ Community” will also offer residents a voluntary club membership that will provide a variety of “curated experiences” and entertainment, and will be operated by Disney Cast Members.

The Cotino community will also include a mixed-use district featuring shopping, restaurants, and entertainment. There will be a beachfront hotel and beachside park available as well. Members of the public can access the hotel and park by purchasing a day pass to the community.

This isn’t the first time Disney tried its hand at real estate development. In 1991, Disney announced plans for Celebration in Orlando, Florida. The community, which broke ground in 1994, included homes, schools, shopping, and dining. In 2004, Disney unloaded Celebration, selling it to a group of private investors.