We’ll give you an update on the situation in Claremont. Tonight we have new details about the expansion of Walt Disney World. Disney CEO Bob Iger has been promising for over a year to build new parks and attractions and create about 13,000 local jobs. Tonight WESH 2’s Greg Fox covers the deals now in place for 20 years of growth. Disney’s 24,000-acre site is already the largest entertainment complex in the region and it’s getting bigger. The development agreement, which will be presented to the Central Florida Tourism Oversight District Board next Wednesday, spells out major expansions, including adding a fifth major park to the Magic Kingdom. Epcot, Animal Kingdom, Hollywood Studios and two new smaller parks would join smaller attractions like water park Fort Wilderness and Disney Springs. The agreement specifies $17 billion in growth over the next 10 to 20 years, with at least $8 billion in capital investments in the first decade. Disney will also put $10 million into affordable housing. This means that in Orange County, where the average income for a four-person household is just over $90,000, affordable housing will go to low-income families earning about $77,000 a year, which is 80% of the average income. Disney already has plans to build 1,400 housing units near Hertzog Road and the 429 Tollway at Horizon West, 1,000 of which will be considered affordable housing. Disney already owns nearly 40,000 hotel rooms and plans to build more over the next 20 years. The expansion will add 13,666 rooms and about 270,000 square feet of new retail and restaurant space.It will be the size of two Walmart stores when fully built out. The head of the Central Florida Tourism Supervisory District gave Wesh two pieces of news: With Walt Disney World’s significant investment, we expect economic growth, job creation, support for local businesses, and environmental and workforce housing initiatives that will benefit Central Florida communities. As a fifth major theme park, Universal will be opening its third gate, Epic Universe, next year, adding another fighter to the local theme park wars. For now, Disney has not announced the name, theme or location of the fifth park. Disney Greg Fox Wesh Two News: Disney will collect nearly all of the taxes to accommodate growth.
New parks, hotels and restaurants: What to know about Disney’s expansion plans in Florida
For more than a year, Disney CEO Bob Iger has pledged an expansion plan that would create 13,000 local jobs over the next 20 years. Iger has also previously said that Disney’s expansion plans could be jeopardized by a brewing feud between Disney and Florida’s Republican governor, Ron DeSantis, over Disney’s opposition to a “parental rights in education” law that critics have called a “don’t say gay” law. But a new development agreement to be voted on next week by the Central Florida Tourism Supervisory District, the government agency that oversees the Walt Disney World site, spells out growth for the 24,000-acre site over the next 20 years. Related Articles: Disney Makes Changes to Disability Access Services Program Fifth Park Joins Disney World This includes the addition of a fifth major park, joining Magic Kingdom, Epcot, Animal Kingdom, and Hollywood Studios, as well as two new smaller parks that will join similar attractions such as water parks Typhoon Lagoon and Blizzard Beach, Fort Wilderness, Disney’s Wide World of Sports Complex, and Disney Springs. The agreement specifies $17 billion in growth over the next 10 to 20 years, with at least $8 billion in capital investments in the first decade. “Affordable” Housing Disney will also invest $10 million in “affordable” housing, meaning housing will be made available for low-income families earning up to $77,200, compared with the median annual income of $90,400 for a four-person household in Orange County. This represents 80% of the median income, according to the Orange County Housing and Community Development Agency. Disney already has plans to build 1,400 housing units at Horizon West, near Hertzog Road and the 429 toll road. About 1,000 of those units would be considered “affordable” for a four-person household making less than $48,250 a year, or 50 percent of the Orange County median income. Related article: Orlando company helps Disney imagineers bring Princess Tiana’s story to life More hotels, restaurants Disney already has 39,801 hotel rooms and plans to build more over the next 20 years. The expansion will add 13,666 rooms and provide 269,665 square feet of new retail and restaurant space, the size of two Walmart stores. When the entire Disney site is complete, it will provide 1,732,887 square feet of retail and restaurant space. Economic Growth “We expect Central Florida communities to benefit from Walt Disney World’s significant investment through economic growth, job creation, support for local businesses, environmental protection and workforce housing initiatives,” Stephanie Kopelousos, administrator of the Central Florida Tourism Supervisory District, told WESH 2 News. A fifth major park would add new fuel to the local theme park wars, as Universal is set to open its third park, Epic Universe, next year. So far, Disney has not announced the name, theme or location of the fifth park. A message to a Walt Disney World spokesperson seeking comment on the development agreement was not returned.
For more than a year, Disney CEO Bob Iger has pledged an expansion that would create 13,000 local jobs over the next 20 years.
He previously said Disney’s expansion could be jeopardized by a dispute between Disney and Florida’s Republican governor, Ron DeSantis, over Disney’s opposition to a “parental rights in education” law that critics have called the “don’t say gay” law.
But a new development agreement set to be voted on next week by the Central Florida Tourism Oversight District, the government agency that oversees Walt Disney World properties, spells out growth for the 24,000-acre property over a 20-year period.
Related: Disney Makes Changes to Disability Access Services Program
Disney World’s fifth park
This includes the addition of a fifth major park after Magic Kingdom, Epcot, Animal Kingdom and Hollywood Studios, as well as two new minor parks that will join water parks Typhoon Lagoon and Blizzard Beach, as well as similar attractions such as Fort Wilderness, Disney’s Wide World of Sports Complex and Disney Springs.
The agreement specifies $17 billion in growth over the next 10 to 20 years, with at least $8 billion in capital investments in the first decade.
Affordable housing
Disney also plans to invest $10 million into “viable” housing.
That means that in Orange County, where the median annual income for a four-person household is $90,400, the affordable housing will be directed to households making up to $77,200 — or 80% of that median income, according to the Orange County Department of Housing and Community Development.
Disney already has plans to build 1,400 housing units at Horizon West on Hertzog Road, near the State Route 429 toll road, with about 1,000 of those units considered “affordable” for a four-person household making less than $48,250 a year, or 50 percent of the Orange County median income.
Related: Orlando company helps Disney Imagineers bring Princess Tiana’s story to life
Other hotels and restaurants
Disney already owns 39,801 hotel rooms and plans to add more over the next 20 years.
The expansion will add 13,666 guest rooms and 269,665 square feet of new retail and restaurant space, the equivalent of two Walmart stores.
Once fully constructed, Disney will have 1,732,887 square feet of retail and restaurant space on the property.
economic growth
“Walt Disney World’s significant investment will benefit Central Florida communities through economic growth, job creation, support for local businesses, environmental protection and workforce housing initiatives,” Stephanie Kopelousos, administrator of the Central Florida Tourism Oversight District, told WESH 2 News.
The fifth major theme park will add a new ally to the local theme park wars when Universal opens its third gate, Epic Universe, next year.
So far, Disney has not announced the name, theme, or location of the fifth park.
A message to a Walt Disney World spokesperson seeking comment on the development agreement was not returned.