Disney to Develop Residential Communities
"Walt Disney Co. said it plans to start developing residential communities, starting with one in Rancho Mirage, in California's Coachella Valley.
"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," Chairman of Disney Parks, Experiences and Products Josh D'Amaro said.
The new residential development business will be called Storyliving by Disney, the company said.
Disney said the Rancho Mirage community is being developed in collaboration with DMB Development. It will include at least one section expressly for age 55+ residents, the company said. Home buyers will be able to choose from estates, single family homes and condominiums.
Other locations across the U.S. are under consideration for future development, Disney said.
At each location, Disney cast members will operate the community association, the company said. Through a club membership, Disney will also provide access to certain experiences, such as wellness programming, entertainment, philanthropic endeavors, seminars and more."