 "Disney to build 1,900 homes for fans to 'be part of Disney all the time'")
If you can't think of leaving the pristine world of Disneyland theme park resorts, the company is now planning to build villas, condos and housing complexes clustered around a 24-acre "grand oasis" in the US.
The company has announced a new business division called "Storyliving", with building a community of 1,900 housing units named Cotino in the Palm Springs city of Rancho Mirage, California, a location where Walt Disney himself once lived, reports The Verge.
Disney will offer "clear turquoise waters" powered by the Crystal Lagoons technology deployed at its resorts.
Amenities will include "shopping, dining, and entertainment," as well as a beachfront hotel and clubhouse hosting "Disney programming, entertainment and activities throughout the year," the report said on Wednesday.
"There is incredible demand for all things Disney. Our fans continue to look for new ways to engage with us, to keep Disney as part of their lives," said Josh D'Amaro, chairman of Disney parks, experiences and products.
"You can be part of Disney all of the time," he was quoted as saying in USA Today.
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The communities will capitalise on the company's sense of storytelling and placemaking.
Instead of telling Mickey Mouse tales, they will focus on the culture, history, experience, food and other attributes of the places where they will be built.
"Every single element of these communities will be steeped in a story," D'Amaro said.
Prices, financing, and other details are yet to be announced. The development will include a variety of properties such as condominiums, single-family homes, and estates.
"Families with young children and people of all ages will be able to purchase properties. Some of Cotino's neighbourhoods, however, will be designated for residents 55 and older, a market in which Disney seems especially interested," the report said.
The amenities will include live entertainment, wellness programming and seminars. There will be a hotel and an entertainment, dining and shopping district too and the guests will be able to purchase a day pass to visit the beach.
"Disney will not own the communities or be the developer of record; nor will it be building or selling the homes. It will be partnering with third parties (developers) to handle those functions," the report added.
Cotino's clubhouse will be themed as a "modern-day creative studio" with each of its spaces celebrating different art forms.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)