Walt Disney World has chosen a developer to build, own and operate a new multifamily property in southwest Orange County, Fla. The Michaels Organization will create an attainable housing development in Central Florida on some 80 acres of land provided by Walt Disney World.
More than 1,300 apartments are set to be constructed. The community will be open to low-income residents, as well as Disney cast members.
The Flamingo Crossings Town Center, a shopping, hotel and dining district, is situated a couple of miles from the new community. The development is located west of State Road 429 with larger access to the Central Florida area. Disney’s Central Florida schools and theme parks are close by.
Walt Disney World selected The Michaels Organization for the build due to the company’s history of attainable housing developments. Disney’s due diligence work in finding an affordable housing developer began earlier this year after the company set aside the land. A definitive agreement is currently under negotiation.
An affordable housing action plan
The Michaels Organization and Disney will work together on design and construction for the community, which is set to be privately financed. The project is part of Orange County’s Housing for All action plan, an initiative led by Mayor Jerry Demings, which is centered around bringing locals affordable housing options.
Florida was already experiencing a severe affordable housing crisis earlier this year before Hurricane Ian. The shortage increased after factoring the billions of dollars’ worth of storm damage.
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