Two years of litigation have come to an end.
ORLANDO, Fla. — For more than a year, Disney CEO Bob Iger has been promising expansion that would create 13,000 local jobs over the next two decades.But a new development agreement that will be voted on next week by the Central Florida Tourism Oversight District – the government agency that oversees Walt Disney World property – spells out 20 years of growth on the 24,000-acre property.
The agreement spells out $17 billion in growth over the next 10 to 20 years, with at least an $8 billion capital investment in the first 10 years.That means in Orange county – where the median annual income for a four-person household is $90,400 – attainable housing would be earmarked for low income households earning up to $77,200. That's 80% of the median income, according to the Orange County Housing & Community Development Division.
Disney is already planning to build 1,400 units on Hartzog Road in Horizon West near the 429 toll road. About 1,000 of those units will be considered"affordable” for those four-person households earning up to $48,250 a year, which is 50% of the median income for Orange county.Disney already has 39,801 hotel rooms and will build more in the next two decades.
The expansion will add 13,666 rooms and 269,665 square feet of new retail and restaurant space – about the size of two Walmart stores."With Walt Disney World's substantial investments, we anticipate economic growth, job creation, and support for local businesses, alongside environmental stewardship and workforce housing initiatives, benefitting Central Florida's community,” Stephanie Kopelousos, administrator of the Central Florida Tourism Oversight District, told WESH 2 News.
A fifth major theme park would add new firepower in the local theme park wars, with Universal opening its third gate, Epic Universe, next year.Disney wants trade secrets kept confidential in lawsuit with DeSantis appointees
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bluey Minisodes Disney+ Release Date Set for New Series of ShortsDisney Branded Television has officially announced the forthcoming Disney Jr. and Disney+ release of Bluey Minisodes.
Read more »
Cleveland man charged in two killings in two cities in two daysUlando Mims Jr., 19, who is already jailed on murder charges tied to the Jan. 3 killing of 19-year-old Lequan Head in Warrensville Heights, was indicted last week in the Jan. 2 death of 17-year-old Tyrone Griffin in Cleveland.
Read more »
Disney plan calls for investing up to $17 billion in Florida parksFlorida’s tourism oversight district is poised to adopt a new development agreement with The Walt Disney Co. that officials say will bring up $17 billion of investments at Disney World over t…
Read more »
Disney’s reputation is on the mend with Republicans after Florida feudThe uptick follows the company's battle with Florida's governor over the state's 'don't say gay' law.
Read more »
Florida woman at Disney park knocked unconscious on five-story waterslide, lawsuit allegesA lawsuit filed in Orange County, Florida alleges that a trip down Disney World's Humunga Kowabunga water slide caused severe bleeding and a brain injury for one 25-year-old guest.
Read more »
Florida woman at Disney park knocked unconscious on five-story waterslide, lawsuit allegesA lawsuit filed in Orange County, Florida alleges that a trip down Disney World's Humunga Kowabunga water slide caused severe bleeding and a brain injury for one 25-year-old guest.
Read more »