As reported by Deadline, Disney just proposed a staggering $1.9 billion investment into Disneyland Resort in Anaheim, CA, to be dispensed over the next ten years. The house the mouse built will add millions more cash for development into housing and parks as part of the agreement they pitched to the City Council. They even have a catchy name for the proposal, DisneylandForward. This ambitious plan needs to pass muster with more meetings planned with City of Anaheim government officials before it’s ultimately approved.
How exactly the money will be used is anyone’s guess as they have not revealed the details yet. The overview suggests Disney will have more latitude on where and how it develops new areas for the theme park, hotels, and dining additions that occupy its current grounds.
An interesting caveat from the Deadline story says that Disney will guarantee the city $30 million for affordable housing and $8 million for parks and money for nearby road improvements.
“We listened to Anaheim’s leaders and worked hard to address what is important for the city,” in a statement from Ken Potrock, who is the president of the Disneyland Resort. “We are proud that DisneylandForward will provide many important benefits directly to the residents of Anaheim.”
The sprawling development proposal would essentially last until 2064. Talk about thinking ahead. When all is said and done, the actual figure is about $2.5 billion when the work is completed.
There will be a vote on Disney’s proposal by the Anaheim City Council by spring. Stay tuned.
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