From Shawn Slater on the Disney Parks Blog:
We have some exciting news to share today! The Creative Entertainment team is hard at work on a spectacular live entertainment experience for the Fantasyland Theatre in Disneyland park. This amazing new show is set to debut in summer 2013. In order to get everything ready, Princess Fantasy Faire will be closing August 12.
Of course, you can still meet your favorite Disney Princesses whenever you visit Fantasyland. You’ll be able to find them along the path to “it’s a small world” from August 13 through the opening of the all-new Fantasy Faire near Sleeping Beauty Castle next spring.
Here’s a look at the Walt Disney Imagineering model for Fantasy Faire. We’ll be sharing more details about this project and the new Fantasyland Theatre show as they develop.
These models are lovely. I hope this means they'll retire the Fantasy Faire & use the theater for a live stage production again!