Context:

Disney has ventured into real estate with its first Storyliving by Disney community, Cotino, located in Rancho Mirage, California, marking a shift towards lifestyle-oriented living for baby boomers and Gen X. This community, developed in collaboration with external builders, eschews overt Disney themes in favor of subtle design elements, with homes starting around $1.3 million and plans for over 1,900 residential units. Amenities include the Artisan Club, offering exclusive access to recreational facilities and themed experiences. With Cotino's initial phase underway, Disney is already planning a second community, Asteria, near Raleigh, North Carolina, expected to accommodate 4,000 residents and launch sales in 2027.

Dive Deeper:

• Cotino is Disney's first Storyliving community, designed to appeal to an older demographic that has a nostalgia for Disney. The community is strategically located in a region historically significant to Walt Disney, who frequented the area.

• The development is a licensing agreement with builders like Davidson Communities and Shea Homes, with Disney primarily involved in the thematic storytelling aspect rather than directly owning the land.

• The first phase of Cotino will feature over 300 homes, with a total plan for more than 1,900 residential units, including options for those aged 55 and older.

• Residents can join the Artisan Club, which requires a one-time initiation fee of $20,000 and offers amenities such as a restaurant, wellness center, and access to Cotino Bay, a man-made beach.

• The Artisan Club has two membership tiers, with annual dues ranging from $11,000 to $19,000, providing varying levels of access to amenities for families.

• Disney has announced Asteria, a second Storyliving community in North Carolina, designed for about 4,000 residents and set to start sales by 2027, indicating a broader strategy in lifestyle community development.