Don’t hold your breath people! All you have to do is look at all the grand plans that Disney had for Disney Vero Beach resort. They bought up all the land between the beach and the Indian River and had this Grand plan that they snowed the county with about how they were going to do this and how they were going to do that and they built the resort and some timeshares on the beach but the vast majority of the land that they bought was never developed. Disney talks a big game and then when they decide to parcel off the remaining land after they’ve built about on 1/5 of it, they ask absorbent prices for the land. So don’t be fooled and go out and buy a big track of land that Disney is selling you. As far as $4,500 homes, I don’t think so. Disney doesn’t have a track record now of following through on anything that they do so I wouldn’t worry about it. You might get about 100 to 150 homes in the next 5 years!!!
Walt’s dream in Florida was to build affordable housing for his employees, but that never happened. It became a place for those who wanted high end homes. Now they are going to do the same in a quiet little town in NC, and change everything, meaning the cost of living for the 4500 people that have been living there for generations! Stop thinking for the rich and build for those who try to have the American dream of home ownership!
It absolutely will. I’m very concerned about my daughter and son-in-law and his family, who have a few acres adjacent to this development. Their income is low, and they bought the property to build a handful of inexpensive houses on and live a simple homesteading lifestyle. They’ve barely gotten started. Now, I fear their property taxes will be so high in the coming years they won’t be able to continue living there.
Plunking and plopping down “high end homes” in a town of 4000 people is ludicrous. Was the decision made w/out the town population voting?? If so, I smell a rat of pay offs and corruption by city hall.
When property values rise, so do the property taxes. Usually, when there is a steady increase of property value over years, adjusting for property taxes don’t hit as hard. But when you have a development like this, property values skyrocket practically overnight. And even if you paid off your mortgage, no one is exempt from property taxes. This is how people get priced out of their homes.
I was born and raised in Cary, NC, not far from Pittsboro. The same thing happened in Cary when the Research Triangle began developing. More affluent people moved in raising housing prices, property taxes, etc. Mosy of the Cary natives whose families had lived there fir generations were priced out of their homes and could no longer afford to live in their own hometown, including myself and my family. I don’t this will be a good thing for Pittsboro natives. They will more than likely be forced out of Pittsboro at some point unless they are wealthy enough to withstand the increased cost of living.
It may well raise the value of your property. But, as long as you live in your home, you will not realize that benefit. Your home is not a commodity that pays dividends like a mutual fund. In fact, the opposite will likely result with increased property taxes for each and every home owner.
LOL – just another example that Disney could really not care a bit about anything but their bottom line. A as a stock holder – I can assure you those profits or dividends are NOT – THAT’S NOT- COMING MY WAY!
Almost seems like another Disney scam like when they sold land to a nc company about a mile from Disney in FL. Well that same place and all its buildings are trashed now with.homeless living in them.
We were seriously considering moving to Pittsboro, NC until we read about this Asteria story book living by Disney. How will this small town handle doubling their population…new schools, new medical facilities, more grocery stores, more road repairs, more everything will be needed, which only equates to MORE taxes for the people of Pittsboro! Now, we are thinking to find a new small town, because the ‘what ifs’ are too many and no one knows what will happen to this lovely area with this Disney development.
We toured Cotino, the Disney Storytelling compound in Rancho Mirage that they are building in the Coachella Valley. They looked like boutique hotels. They also thought we were looking for a four million dollar “second” home. And that lagoon. In the desert. Irresponsible.
4,000 homes at luxury prices does not “bring housing” to the community. Nobody in that community will be able to afford those homes. It will only be rich people that will move in from somewhere else. Most likely not even NC.
City council went for the easy money and approved this, but never asked the big question, “How much will these homes go for?”
Another small town destroyed by development and greed. Disney doesn’t care about that area. They probably got the acreage fairly cheap. The cost of living, housing prices, taxes etc will only increase. It’s amazing how the decision makers and government in that county are so short sighted. I imagine a lot of them are developers and real estate people looking to profit off it.
Yes. Developers infest the local elected and appointed positions in the area. Greed trumps our water resources all the time. Nearby Hillsborough just lost over 5 million gallons of sewage into the river here from Chantal. Tell the new homeowners to bring their hip boots with them when they move.
This is the perfect example of why the housing market crisis isn’t because of housing supply. It’s the rich putting their money into assets which has been ramping up since COVID. Regular folk don’t stand a chance against these people who buy houses as if they’re gold watches. Considering the price tag on this project, it’s clearly just an asset farm for the ultra-wealthy. The rich ruin everything. Tax wealth, not work!
The development will create plenty of jobs for the unfortunate non citizens. North Carolina has plenty of new homes in the 350 k range in the Benson and Dunn areas . All of these new corporations moving in will need homes for the upper management.
Given that the town’s water supply is currently able to supply 12M gallons/day to the 4500 residents, and the town is increasing its capacity to 30M, they would only be able to support ~6700 more people with their water. In truth, it would be far less than that. Current residents don’t have neighborhoods full of sprinklers and immaculate lawns that require lots of water. So unless the 4000 units they are building are going to all be for 1 person/house, they are going to have a water problem worse than Los Angeles. If I lived in Chatham county, I would be getting out before the 1st mouse house is completed. It is only going to get worse.
It’s so important that people think about issues like this when they vote in local and state elections. Don’t vote for people with ties to real estate development or backed by big industries.
Try to find local politicians that have local people’s needs at their core. Question where their money comes from! It could save communities
Comments for At a Potential Million Dollars a Pop, North Carolina Is Wondering Who Disney’s Expansion There Is For?
Don’t hold your breath people! All you have to do is look at all the grand plans that Disney had for Disney Vero Beach resort. They bought up all the land between the beach and the Indian River and had this Grand plan that they snowed the county with about how they were going to do this and how they were going to do that and they built the resort and some timeshares on the beach but the vast majority of the land that they bought was never developed. Disney talks a big game and then when they decide to parcel off the remaining land after they’ve built about on 1/5 of it, they ask absorbent prices for the land. So don’t be fooled and go out and buy a big track of land that Disney is selling you. As far as $4,500 homes, I don’t think so. Disney doesn’t have a track record now of following through on anything that they do so I wouldn’t worry about it. You might get about 100 to 150 homes in the next 5 years!!!
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Post a commentAndrea
Walt’s dream in Florida was to build affordable housing for his employees, but that never happened. It became a place for those who wanted high end homes. Now they are going to do the same in a quiet little town in NC, and change everything, meaning the cost of living for the 4500 people that have been living there for generations! Stop thinking for the rich and build for those who try to have the American dream of home ownership!
Sheryl
Won’t it raise the property values for those living there??
Mia
It absolutely will. I’m very concerned about my daughter and son-in-law and his family, who have a few acres adjacent to this development. Their income is low, and they bought the property to build a handful of inexpensive houses on and live a simple homesteading lifestyle. They’ve barely gotten started. Now, I fear their property taxes will be so high in the coming years they won’t be able to continue living there.
Noble Muse
Plunking and plopping down “high end homes” in a town of 4000 people is ludicrous. Was the decision made w/out the town population voting?? If so, I smell a rat of pay offs and corruption by city hall.
Dave
When property values rise, so do the property taxes. Usually, when there is a steady increase of property value over years, adjusting for property taxes don’t hit as hard. But when you have a development like this, property values skyrocket practically overnight. And even if you paid off your mortgage, no one is exempt from property taxes. This is how people get priced out of their homes.
Betsy Fox
I was born and raised in Cary, NC, not far from Pittsboro. The same thing happened in Cary when the Research Triangle began developing. More affluent people moved in raising housing prices, property taxes, etc. Mosy of the Cary natives whose families had lived there fir generations were priced out of their homes and could no longer afford to live in their own hometown, including myself and my family. I don’t this will be a good thing for Pittsboro natives. They will more than likely be forced out of Pittsboro at some point unless they are wealthy enough to withstand the increased cost of living.
Alby Tross
It may well raise the value of your property. But, as long as you live in your home, you will not realize that benefit. Your home is not a commodity that pays dividends like a mutual fund. In fact, the opposite will likely result with increased property taxes for each and every home owner.
Fred
Commute going to /from Raleigh, going to be worse. No mass transit means more cars on the road
Walt
LOL – just another example that Disney could really not care a bit about anything but their bottom line. A as a stock holder – I can assure you those profits or dividends are NOT – THAT’S NOT- COMING MY WAY!
Al
Almost seems like another Disney scam like when they sold land to a nc company about a mile from Disney in FL. Well that same place and all its buildings are trashed now with.homeless living in them.
Kerchner
We were seriously considering moving to Pittsboro, NC until we read about this Asteria story book living by Disney. How will this small town handle doubling their population…new schools, new medical facilities, more grocery stores, more road repairs, more everything will be needed, which only equates to MORE taxes for the people of Pittsboro! Now, we are thinking to find a new small town, because the ‘what ifs’ are too many and no one knows what will happen to this lovely area with this Disney development.
Bart
We toured Cotino, the Disney Storytelling compound in Rancho Mirage that they are building in the Coachella Valley. They looked like boutique hotels. They also thought we were looking for a four million dollar “second” home. And that lagoon. In the desert. Irresponsible.
Jak J
4,000 homes at luxury prices does not “bring housing” to the community. Nobody in that community will be able to afford those homes. It will only be rich people that will move in from somewhere else. Most likely not even NC.
City council went for the easy money and approved this, but never asked the big question, “How much will these homes go for?”
Linda
Another small town destroyed by development and greed. Disney doesn’t care about that area. They probably got the acreage fairly cheap. The cost of living, housing prices, taxes etc will only increase. It’s amazing how the decision makers and government in that county are so short sighted. I imagine a lot of them are developers and real estate people looking to profit off it.
John Dempsey
Yes. Developers infest the local elected and appointed positions in the area. Greed trumps our water resources all the time. Nearby Hillsborough just lost over 5 million gallons of sewage into the river here from Chantal. Tell the new homeowners to bring their hip boots with them when they move.
Dave
This is the perfect example of why the housing market crisis isn’t because of housing supply. It’s the rich putting their money into assets which has been ramping up since COVID. Regular folk don’t stand a chance against these people who buy houses as if they’re gold watches. Considering the price tag on this project, it’s clearly just an asset farm for the ultra-wealthy. The rich ruin everything. Tax wealth, not work!
Jack
The development will create plenty of jobs for the unfortunate non citizens. North Carolina has plenty of new homes in the 350 k range in the Benson and Dunn areas . All of these new corporations moving in will need homes for the upper management.
Water Guy
Given that the town’s water supply is currently able to supply 12M gallons/day to the 4500 residents, and the town is increasing its capacity to 30M, they would only be able to support ~6700 more people with their water. In truth, it would be far less than that. Current residents don’t have neighborhoods full of sprinklers and immaculate lawns that require lots of water. So unless the 4000 units they are building are going to all be for 1 person/house, they are going to have a water problem worse than Los Angeles. If I lived in Chatham county, I would be getting out before the 1st mouse house is completed. It is only going to get worse.
Freya
It’s so important that people think about issues like this when they vote in local and state elections. Don’t vote for people with ties to real estate development or backed by big industries.
Try to find local politicians that have local people’s needs at their core. Question where their money comes from! It could save communities
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