Entertainment

Disney’s $1.9B DisneylandForward Project Gets Final Approval From Anaheim

The Anaheim City Council today gave final approval to DisneylandForward, Disney’s multi-decade expansion plan for the original $1.9 billion Walt Park. Today’s 7-0 procedural vote came after a unanimous vote approving the project in April. The zoning and other changes under the plan will take effect in 30 days.

These changes include zoning that will allow mixed-use development where it does not currently exist. The proposal allows for the redevelopment of approximately 57 acres of parking and unused land. Artist renderings of the plans provided by Disney, while conceptual, show a major development west of the current parks near the Disneyland Hotel and another southeast of California Adventure. The two plots are currently mainly dedicated to parking.

Disney

This would allow theme park attractions to sit alongside hotels on the west side of Disneyland Drive. See the rendering below.

It would also allow theme park attractions as well as new shopping, dining and entertainment to the southeast at what is now the Toy Story parking area at Katella Avenue and Harbor Boulevard. See the rendering below.

Earlier this year, Disney CEO Bob Iger offered a brief first look at the new “possible” Avatar-themed area at Anaheim Park. Pandora – The World of Avatar, has been operating at Disney World in Florida for years and Iger said it was the company’s “intention” to make it a new Disneyland feature. “We’re excited about the many potential new stories our guests could discover at Walt’s original theme park, including the opportunity to embark on all-new Avatar adventures with a visit to the world of Pandora,” he said. he declares. “Possible” is the key term here.

HAS sixAnaheim City Planning Commission’s one-hour meeting in March regarding the company’s request for zoning “flexibility” from the 1994 “Resort Specific Plan” governing the area in and around Disneyland, a A series of local residents have raised questions with the commission and Disneyland’s big boss, Ken. Potrock why they are being asked to authorize a $1.9 billion overhaul of the park with little detail on what specific attractions and experiences are being added. (The company’s plan for the park has been dubbed DisneylandForward.)

“With DisneylandForward and more flexibility within our existing properties, new lands and adventures like those underway at Tokyo DisneySea and Shanghai Disneyland could inspire new experiences here,” reads the copy on DisneylandForward.com. The examples given are Frozen the earth and the Tangled And Peter Pan attractions for the original park and Zootopia, Tron And toy story elements for Disney’s California Adventure. However, these are only examples. Disney executives, including Potrock in his responses to Anaheim residents, did not commit to any of them.

Disney needs this project for its flagship park because, even though its Parks and Experiences unit continues to waste money, most of the stellar 10% revenue growth the unit has seen over the past three month is due to its properties abroad.

Disneyland, despite growing attendance and per capita spending, saw its results decline year over year due to higher costs, including labor, Chief Financial Officer Hugh Johnston said during ‘second quarter earnings call with analysts earlier today.

One big surprise: He said fleet growth in the current fiscal third quarter will be flat for several reasons, including “some normalization of post-Covid demand as far as demand is concerned.” As consumers continue to travel in record numbers and we still see healthy demand, we are seeing signs of a global moderation from the post-Covid travel peak. Wall Street didn’t really know what to do with this and the stock fell as a result.

Disney has just begun a ten-year, $60 billion investment cycle in parks and experiences. The first step is the $1.9 billion DisneylandForward plan. “We are incredibly excited about the many potential new stories our guests could experience at Walt’s original theme park,” Iger said in his opening remarks for the call.

For more details on DisneylandForward, click here.

Some positives for Anaheim residents include the fact that Disney is expected to invest a minimum of $1.9 billion in theme parks, lodging, entertainment, shopping and dining within 10 years. Also included is $30 million for affordable housing in Anaheim, including $15 million in the first year and $15 million over five years; $10 million: for sewer improvements along Katella Avenue; $8 million for Anaheim parks in first year.

Depending on what is built, Anaheim is expected to generate between $15 million and $244 million in additional annual revenue once construction is complete of what is permitted under DisneylandForward.

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News Source : deadline.com

Eleon

With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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