Initial Approval and What It Means
On Wednesday, June 6, 2024, the DeSantis-appointed supervisors overseeing Disney World gave initial approval to a new development agreement.
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This approval marks the beginning of a new era for Disney and Florida, focusing on mutual growth and investment.
Exciting Developments on the Horizon
Under the new agreement, Disney plans to build a fifth major theme park and two additional minor parks, such as water parks.
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This expansion is part of a broader vision to enhance the Disney World experience over the next decade or two.
Increased Accommodation Capacity
Disney World’s lodging capacity will see a significant boost, increasing from nearly 40,000 rooms to over 53,000.
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The 13,000-room expansion is expected to cater to the growing number of visitors and enhance their overall experience.
Expansion of Retail and Restaurant Spaces
The agreement also allows for a more than 20% increase in retail and restaurant spaces.
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Disney aims to offer guests a wider variety of dining and shopping options, enhancing the overall visitor experience.
Community Investments and Benefits
As part of the deal, Disney will donate up to 100 acres of its property for infrastructure projects controlled by the district.
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This commitment conveys Disney’s dedication to supporting the local community and contributing to its development.
Support for Local Businesses
Disney is making a big splash by pledging that at least half of its construction projects will go to Florida-based companies. This move is set to boost the local economy, funneling significant investment right into the heart of the Sunshine State.
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As a result, it is expected to create numerous job opportunities and provide significant growth potential for local businesses. By leveraging the talent and resources within Florida, Disney hopes to foster a more robust economic environment and establish stronger ties with the local community.
Affordable Housing Initiatives
Disney will also invest at least $10 million in affordable housing for central Florida. This initiative is part of Disney’s broader commitment to supporting the local community and addressing housing needs.
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The investment aims to provide more accessible living options for families and individuals, helping to alleviate the housing crisis in the area. By doing so, Disney hopes to improve the quality of life for many residents and contribute positively to the local economy.
Resolving Legal Disputes
The March settlement ended nearly two years of litigation between Disney and the Central Florida Tourism and Oversight District.
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This agreement has, seemingly, finally paved the way for future collaboration and development.
The Background of the Dispute
The legal battle began following Disney’s opposition to the “Don’t Say Gay” law.
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Governor DeSantis took over the district in response, leading to a series of lawsuits that have now been resolved.
Moving Forward with Optimism
Charbel Barakat, vice chair of the district’s board, expressed excitement about the new direction, stating, “I only wish we could have gotten here sooner.”
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Woody Rodriguez, Disney’s director of external affairs, highlighted the potential for many more investments in Disney World.
Final Approval on the Horizon
A second vote for final approval of the agreement is set for next week.
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If approved, this agreement will mark a significant milestone in the ongoing collaboration between Disney and the Central Florida Tourism and Oversight District.