Disney is launching a residential construction project in Central Florida

Disney is launching a residential construction project in Central Florida

Walt Disney World selected the developer that will build the new affordable residential complex on a land plot of approximately 320,000 square meters in the southwest of Orange County, Florida, only a few miles away from the famous theme parks by Disney – Magic Kingdom and EPCOT.

The project will be developed, owned, and operated by The Michaels Organization. The first renderings of the new residential complex have already been published. It will include over 1,300 homes.

The entertainment industry giant launched this initiative to contribute to solving the problem of the affordable housing crisis in Florida. Besides building new apartments, the project will also create new jobs in the central part of the state: it will employ people for construction and subsequent operation of the new development.

Disney’s competitors are not far behind. For instance, Universal Parks & Resorts announced the construction of 1,000 apartments with controlled rent on a land plot of 80,000 square meters in Orlando. The project initiated by Universal will be implemented by the developer Wendover Housing. Jonathan Wolf, its founder and CEO, says that the rentals on new homes will range from $100 to $400 per month for one-bedroom options and reach up to $2,000 for three-bedroom apartments.

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