According to realtor.com, the entertainment juggernaut plans to build a new Disney’s story community of homes and businesses in Southern California’s Coachella Valley infused with Disney.
This residential community will be branded as Storyliving by Disney. They are planning to mix single-family homes, condominiums, and villa estates. It will be about two hours from Disneyland in Anaheim.
Some real estate and urban planning insiders aren’t quite enchanted at the prospect. They are afraid that it will change the demands of the housing market.
Disney's Story Community Turned Into Nightmare
Disney isn’t the first time getting into the real estate market with an aspirational agenda. In 1995, Disney architects designed a small hamlet near Walt Disney World’s Magic Kingdom theme park.
The homes are surrounded by sprawling palm trees. According to the Celebration Foundation timeline, the first 1,200 residents were chosen to live there from a lottery paying a $1,000 deposit for the opportunity to own a home in the community. It has developed a church, hospital, schools, restaurants, and commerce.
According to New York Times reports at the time, Disney sold the town to a private equity firm. Celebration’s business district sued the private firm in 2016 for up to $20 million in damages.
