Disney’s (NYSE:DIS) Star Wars Land Prompts $6-B In Development
Four new luxury hotels are planned, a larger Convention Center, plus updated infrastructure is tied to the planned ‘Star Wars’ Land.
Anaheim, California real estate developer-friendly and $6-B in recent investment, much of which is derived from Disney’s upcoming Stars Wars Land.
The $6-B includes a 466-rm JW Marriott near the Disneyland Resort to begin construction in Y 2017.
Anaheim is also is expanding its Convention Center by 200,000 sqf, and is adding a parking structure, transit hub and pedestrian bridge to accommodate the new Star Wars attraction and the added tourists.
Over 25-M people come to Anaheim’s theme parks annually.
Disney recently closed several attractions to make room for Star Wars Land, which is being built on 14 acres to the north of Frontierland and is being billed by the company as a “never-before-seen planet inhabited by humanoids, droids and many others.”
Disney also is building a Star Wars-themed attraction at Walt Disney World Resort in Florida.
No firm timetable has been set for the opening of either new attraction.
Disney CEO Bob Iger told attendees at the company’s D23 Expo in August 2015 that this will be Disney’s “largest single-themed land expansion ever.”
Sensing the spill-over from the iconic theme park several top commercial developers have gotten in on the action.
Chinese developer LT Global acquired a 14.8-acre parcel of land adjacent to Angel Stadium in what is known as the Platinum Triangle. LT Global is planning a mix of new residential, commercial and office space and at least one hotel.
Los Angeles-based CIM Group, which acquired the Stadium Gateway building across from Angel Stadium and is exploring building another 300,000-sqf office tower next door. The company previously developed apartments in downtown Anaheim.
|NYSE:DIS||92.56||16 September 2016||0.06||92.27||92.74||91.8||10,568,600|
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Have a terrific weekend