On February 16, local time in the United States, The Walt Disney Company (NYSE:DIS) announced plans to launch Disney's residential community business "Disney Storyliving by Disney", Disney Imagineers will work with developers and home builders to jointly develop a residential community full of the magic of the Disney brand.
Disney cast members trained in Disney Legends Guest Services will operate community associations at each location of their choice, including some communities where residents aged 55+ are around.
According to the announcement, Disney's first "story life" community will be built in Rancho Mirage in the Coachella Valley, California, where Walt Disney himself owns a residence.
Disney Story Living Community Concept Map. (Source: Disney Story Life official website)
The disney "story life" community project at the site, known as Cotino, will be developed by Disney in partnership with DMB Development, a company that is highly regarded for developing large planning communities in the United States. Cotino will be built in the heart of the Palm Springs area and buyers will have a variety of home types to choose from, including estates, detached homes, and condominiums. Cotino also includes at least one area dedicated to residents over the age of 55.
On Disney's Life of Disney Stories website, Disney's community in the Palm Springs area has been called "the ultimate destination for curious dreamers and doers seeking to explore, innovate and be inspired." The Cotino community has also been approved to develop hotels and a range of shopping, dining and entertainment products in an oasis covering about 24 acres. Part of the oasis also includes a professionally managed beach park offering recreational water activities that the public can access by purchasing a day ticket.
At the same time, Disney is exploring other locations in the U.S. for future development communities.
"For nearly 100 years, disney-shared stories have touched the hearts of people around the world." Josh D'Amaro, chairman of Disney's Parks, Experiences and Products Division, said, "As we prepare to enter the second century, we are developing exciting new ways to bring disney magic to people wherever they are, extending storytelling to storytelling to life. We can't wait to welcome residents to these beautiful and unique Disney communities where they can live fulfilling lives. ”
A week ago, Walt Disney Company released its first quarter of fiscal 2022 results for the fiscal year ended January 1, 2022. According to the financial report data, disney's total revenue for the three months ended January 1, 2022 was $21.819 billion, an increase of 34.28% year-on-year; net profit was $1.104 billion, compared with a net profit of $17 million in the same period of the previous fiscal year.
Walt Disney CEO Bob Chapek said in his earnings report: "In the last year of the first century of Walt Disney Company, this performance coupled with our unparalleled set of assets and platforms, creative capabilities and unique position in the culture gives me confidence that we will continue to define entertainment for the next 100 years." ”