Walt Disney World has announced an affordable housing project, setting aside nearly 80 acres of land in Central Florida. This comes after Universal released the initial development plan for an affordable housing community in Orlando.
“We are invested in working together with our community to solve complex issues,” said Jeff Vahle, president of Walt Disney World Resort.
“The lack of affordable housing is affecting many people across our country, including right here in Central Florida.”
“With this initiative, we’re lending a hand to make a real and meaningful impact in our community by tapping into the best of our company’s strengths,” Vahle added.
“This is the right opportunity and the right time to take action.”
The development is expected to include more than 1,300 units. It will be constructed by an affordable housing developer and located on Disney’s land in southwest Orange County.
1,300 affordable housing units in Orlando
It will feature different affordable and attainable homes, and will be available for qualifying applicants in the region, including Disney cast members.
More information about Disney’s new initiative will be released at a later date. The company is continuing due diligence work with a prominent affordable housing developer.
Earlier this year, Disney announced plans to construct ‘Storyliving by Disney’ residential communities across the US, which are being designed by Disney Imagineers alongside property developers.
Cotino, the first residential community, will be built in Rancho Mirage, in California’s Coachella Valley. It will include a mixed-use district with shopping, dining and entertainment, as well as a beachfront hotel.
Universal’s affordable housing community has been named Catchlight Crossings. The company pledged 20 acres of land in Orlando to be used for 1,000 units of affordable housing.
“Our vision has been to bring an innovative, new approach to solving our community’s affordable housing crisis,” said John Sprouls, executive vice president and chief administrative officer for Universal Parks & Resorts.
Images: Disney
