Disney will commit to investing at least $1.9 billion into the Disneyland Resort over the next decade, along with providing millions more for housing and parks, as part of a proposed agreement with Anaheim to pave the way for new development at its theme park properties.
The development agreement, presented Tuesday afternoon during a City Council workshop, would give Disney flexibility to choose where it builds new theme park areas, hotels and dining within its existing footprint, and in return would guarantee the city the continued investment into the resort, along with $30 million for affordable housing and $8 million for parks. It’s part of the theme park’s DisneylandForward proposal to update the resort over the coming years.
“We listened to Anaheim’s leaders and worked hard to address what is important for the city,” Ken Potrock, president of the Disneyland Resort, said in a statement. “We are proud that DisneylandForward will provide many important benefits directly to the residents of Anaheim.”
The development agreement would last until 2064.
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DisneylandForward could be one of the largest developments for Anaheim, city officials said. The presentation on Tuesday was a broad overview of its details, but the final document is yet to be released. There are no details on what Disney might build within its allowed allotments.
The City Council is expected to vote on the DisneylandForward project by spring. Anaheim spokesperson Mike Lyster said the city’s Planning Department has been the lead in negotiating the agreement for the past few months.
Lyster described Anaheim as a largely visitor economy. More than 25 million people visit Anaheim each year, driven largely by the Disneyland Resort. The city expects to take in more than $230 million this year from the local hotel taxes visitors pay.
New attractions at the Disneyland Resort should equate to more visitors to…
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