The Michaels Organization, a prominent
developer with community housing properties in more than 35 states,
set to build, own and operate more than 1,300 units on Disney's
land in southwest Orange County,
Florida.
LAKE
BUENA VISTA, Fla., Nov. 16,
2022 /PRNewswire/ -- Walt Disney World has
selected The Michaels Organization, a prominent and visionary
developer known for creating high-quality homes in communities
across the country and here in Central
Florida, to build, own and operate a new attainable housing
development, offering affordable options for qualifying applicants
within certain income levels. Walt Disney
World will contribute approximately 80 acres of land in
southwest Orange County, Florida,
for the development, located west of State Road 429 and just a
couple of miles from Flamingo Crossings Town Center.
This initiative will help offer a viable solution to one of the
nation's greatest challenges. The development is expected to
include more than 1,300 units.
After a thorough search, Walt Disney
World chose The Michaels Organization for its long-standing
track record in building and managing attainable housing
communities. Negotiations between Walt
Disney World and The Michael's Organization on a definitive
agreement for the project are underway. With over 425 communities
in more than 35 states, The Michaels Organization has provided
comprehensive solutions to affordable housing for many years and is
the largest privately held owner of affordable housing in the
country. The development will be open for qualifying
applicants, including Disney cast members.
"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."
The initiative will create new jobs in the Central Florida community through The Michael's
Organization's construction and ongoing operation of the property.
Disney will collaborate with The Michaels Organization throughout
its design and construction.
"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."
The development – which is planned to be privately financed –
will be limited to applicants within a certain income range. This
initiative will support and build upon Orange County's Housing for All action plan to
address housing affordability for local residents, an action plan
brought about by the passion and leadership of Mayor Jerry Demings.
The initiative is one of many ways Disney engages with local
leaders to help the community find lasting solutions to this issue,
from making monetary donations, to contributing supplies to local
organizations in need, to providing assistance through the Disney
VoluntEARS program and more. 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
just part of the $5.5M Walt Disney World has contributed to important
community causes during the ongoing 50th Anniversary
celebration, including organizations on the frontline of addressing
the need for affordable housing, like Hope Partnership.
Additional details, including a construction timeline, will be
shared in the future.
About The Michaels
Organization
The Michaels Organization is a national leader in residential
real estate offering full-service capabilities in development,
property management, construction, and investment. Serving 175,000
residents in more than 440 communities nationwide, Michaels is
committed to crafting housing solutions that jumpstart education,
civic engagement and neighborhood prosperity, and to creating
Communities That Lift Lives.
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SOURCE Walt Disney World