Disney releases new details on its Chatham County neighborhood
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A rendering of The Lost Key Cottage at Asteria. Photo: Storyliving by Disney
Disney released more details Wednesday about its upcoming residential neighborhood project in Chatham County, one of the entertainment company's biggest bets on real estate in the country.
Why it matters: Disney is joining a wave of developers betting big on Chatham County's continuing transformation from a rural buffer on the outskirts of the Triangle into one of the biggest growth spots in the country.
Driving the news: The neighborhood, called Asteria, will add 4,000 housing units — a mix of single-family houses and townhomes — to Chatham Park outside Pittsboro.
State of play: The brainchild of the Cary developers Tim Smith and Julian "Bubba" Rawl, Chatham Park is expected to become home to 60,000 people over the next two decades. Pittsboro currently has around 6,000 residents.
Zoom in: According to the plans released by Disney, Asteria will be built around the Second Star Club, which it refers to as the social heart of the 1,500-acre neighborhood.
The Second Star Club, a reference to "Peter Pan," will feature:
- "Aster Green," a large lawn for residents to play sports, host picnics and enjoy movie nights.
- "The Studios," a maker space where residents can use laser engravers, fabric printers and woodworking tools.
- A wellness center with outdoor yoga, a pool and gym equipment, and a gathering space for watching sporting events and parties.
- There will also be a five-bedroom home called "The Lost Key Cottage" inspired by Peter Pan and Neverland, which members can rent for overnight stays and events.
What's next: Home sales are expected to begin in 2027, with the amenities completed in 2028.
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.