After several years of court battles, Disney and the Central Florida Tourism Oversight District have agreed on a new development plan for the Walt Disney World resort. The development agreement, which received the first of two approvals via the district oversight board on June 5, sets the course for the resort’s development over the next decade.
Related: Disney World and Central Florida Tourism Oversight District Reach Development Agreement
Under the terms of the new development agreement, which is valid through 2034, Disney is authorized to perform construction projects up to the following limits:
- Up to 53,467 hotel rooms (currently there are 40,000 hotel rooms on Disney property)
- Over 1.2 million square feet of office space
- Over 1.7 million square feet of retail and restaurant space (a 20% increase)
- Five minor theme parks (e.g., water parks, sports complexes)
- Five major theme parks, including the possibility of one new major theme park (allowing for the addition of one additional gate)
These figures represent the upper limits of possible development, allowing Disney to adapt to changing market conditions and guest preferences while ensuring responsible growth. The plan would enable Disney to break ground on one additional major theme park and add a minor theme park such as a new sports complex or a third water park.
Related: Settlement reached in lawsuit between Disney and Florida Gov. Ron DeSantis
Disney, in turn, will need to allocate up to 100 acres of Walt Disney World Property to the Central Florida Tourism Oversight District to develop district infrastructure projects. Disney will also need to award at least 50% of all new construction bids to Florida-based companies, and spend at least $10 million on affordable housing in Central Florida.
The development agreement will now need to pass a second and final public hearing, scheduled for June 12, 2024, at 1900 Hotel Plaza Blvd., Lake Buena Vista, Florida, before being considered final.
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