It was just revealed in a new post from Disney that a location and developer had been decided on for Walt Disney World’s affordable housing project.

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Earlier this year, Disney revealed its plans to contribute nearly 80 acres of land for a new affordable housing development. “It’s a project that has been near and dear to our hearts, as we know how important it is to find solutions to this important challenge facing communities all around the country, including here in Central Florida,” states Disney. “Today, we’re sharing more details and giving you a sneak peek at what we’ve been working on!

“For more than 50 years, Walt Disney World has cared for and invested in our community, and we’re committed to being a part of this solution which will bring more attainable housing to Central Florida,” said Jeff Vahle, president of Walt Disney World Resort. “We will continue to find ways to use our resources to make a difference in the community we call home, and we’re excited to take this step with a nationally recognized developer.”

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The development is expected to be privately financed and limited to applicants within a certain income range and to include more than 1,300 units.

After a thorough search, Disney states that it chose The Michaels Organization as its developer for the project due to its long-standing track record in building and managing attainable housing communities. Negotiations between Walt Disney World and The Michaels Organization on a definitive agreement for the initiative are underway. The development will be open for qualifying applicants, including Disney cast members.

“We are excited to work with an iconic brand like Disney to deliver attainable housing for the Central Florida community,” said Michaels CEO John J. O’Donnell. “Our goal is to create a repeatable model that we hope will inspire other companies and municipalities to create high quality, attainable housing in their own communities.”

Earlier this year, Walt Disney World and Disneyland Resort donated $300K to local food banks to support people in the community facing food insecurity. That donation was part of the $5.5M Walt Disney World has contributed to important community causes during the ongoing 50^th Anniversary celebration, including organizations on the frontline of addressing the need for affordable housing.

Are you excited about this news?