According to The Orange County Register, Disney will commit to spending $2.5 billion on the Disneyland Resort over the next 10 years, as part of their DisneylandForward proposal with the City of Anaheim.
Disney Commits to Spending $2.5 Billion with DisneylandForward
The development agreement was presented on the afternoon of Tuesday, January 23, 2024, during a City Council workshop. If approved, it would give Disney the ability to choose where it builds new areas for the theme parks, hotels, and dining within its already existing footprint, and would guarantee the city the continued investment into Disneyland Resort, as well as $30 million in affordable housing and $8 million for parks.
The company’s $2.5 billion investment into Disneyland Resort would be for attractions, like theme park additions or hotels, and would not be spent on parking or infrastructure. Per the OC Register, possible projects suggested include offerings based on “Black Panther,” “Coco,” “Frozen,” “Zootopia,” “Tangled,” “Peter Pan,” “Toy Story,” and “Tron.”
Of the additional $30 million proposed for affordable housing in Anaheim, half would be paid in the first year of DisneylandForward, with the rest being paid in five years. City officials said it would be the largest corporate contribution to the city for affordable housing.
According to Erin Ryan, a spokesperson for Anaheim, the money would be used to help compete for housing grants, because Anaheim would have some of its own money to bring to the table. There’s not a single project that the money would be used for, but Anaheim has many affordable housing projects in development, she said.
The $8 million proposed for parks would be for the city to use at its discretion.
Disney also proposed to buy some streets from the city for $40 million, including Hotel Way, Magic Way, and part of Clementine Street; officials say this is market rate.
If Disney doesn’t invest even more than the minimum proposed $1.9 billion, at least $2.5 billion over the next decade, the company would then give Anaheim an additional $5 million for transportation and street improvements. With this, the city would no longer have to pay to maintain those streets.
The $40 million to purchase the streets is part of a larger $90 million investment proposed by Disney for street improvement, including plans to widen Katella Avenue east and west of Harbor Boulevard. The city would decide how the streets would be redesigned, and would not move forward with previously planned extensions of Clementine Street and Gene Autry Way. Also, along Katella Avenue, Disney would pay up to $10 million to expand a sewer main line.
Disney also proposed a new 17,000-space parking garage and five pedestrian bridges — three over Harbor Boulevard and two over Disneyland Drive — as part of the development agreement.
We listened to Anaheim’s leaders and worked hard to address what is important for the city. We are proud that DisneylandForward will provide many important benefits directly to the residents of AnaheimKen Potrock, president of the Disneyland Resort
In addition, if this agreement moves forward, it would last until 2064.
The presentation today covered a broad overview of DisneylandForward, but the final document has not yet been released. There are also no details on specifically what Disney might build within its parameters.
Anaheim’s Planning Commission is expected to hold another DisneylandForward workshop next month, which will include an overview of the development agreement. The City Council is expected to hold hearings on the project sometime in April and May.
Disney is planning to invest $60 billion total in Disney Parks and Disney Cruise Line over the next decade.