Dec 6, 2023 - News

Disney to build "Asteria" neighborhood in the Triangle

An artist's rendering of Storyliving's Asteria community, courtesy of Storyliving

The Mouse wants to build you a house in the Triangle.

Driving the news: Storyliving, a housing developer owned by Disney, said Wednesday it will build a 1,500-acre neighborhood community called Asteria in the Chatham Park development in Pittsboro.

Why it matters: The community will form a significant portion of the planned Chatham Park development, which is the brainchild of the Cary developers Tim Smith and Julian "Bubba" Rawl.

  • When it's completed over the next two decades, Chatham Park — located around 30 miles west of Raleigh — is anticipated to be home to 60,000 people.

Details: The neighborhood, which will host Disney-themed activities and events once open, will include 4,000 housing units in both single-family homes and apartments.

  • A portion of the homes would be reserved for people over 55 years old.
  • Other amenities expected to be built include: a gym, restaurant, swimming pools and a community garden.
  • Home sales are expected to begin in 2027.

The big picture: Residential communities are a new line of business for Disney, which announced its first last year.

  • The communities, designed by Disney's research-and-development teams, are an effort to extend its theme-park businesses into new areas, the Wall Street Journal previously reported.
  • It's the second Disney-backed community to be announced in the U.S. after one in Rancho Mirage, California.

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