Disney World may soon add a fifth theme park

There may be a “Great Beautiful Tomorrow” on the horizon for some 50 million visitors Walt Disney World annual.

Today, the Central Florida Tourism Oversight District, which oversees land use and public services in the area Disney World owns and operates, unanimously approved its initial review of the development plan. The 15-year development could bring big changes to Disney World in the coming decades, including a possible fifth theme park.

Disney published a legal notice detailing the development plans in the May 29 edition of the newspaper. Orlando is key. It outlines Disney’s investment plans of up to $17 billion over the next 10 to 20 years, with a commitment of $8 billion over the next 10 years.

As stated in the plan, that money could be used to develop new office space, hotels, restaurants, retail space and theme parks. The proposed agreement covers approximately 17,370 acres of land under CFTOD’s jurisdiction, the majority of the land it oversees.

Under the terms of the plan, Disney World would be approved to increase the total number of hotel rooms from more than 36,000 existing rooms to 53,467 and increase retail and restaurant space. Most interestingly for Disney fans, the deal also calls for a maximum of five “major theme parks” and five “small theme parks.”

Disney already has four theme parks and two water parks, but if the plans are approved, Disney could build a fifth theme park and additional water parks or smaller, smaller parks as well. on one’s own.

Contract also called on Disney to “donate land to improve the public infrastructure needed to support new development,” commit at least $10 million to viable housing projects, and award at least 50% of the goods and services related to planned design, development and construction. to businesses in Florida.

Today’s news reconfirms The Walt Disney Company Committed $60 billion to “accelerate and expand investment” in global theme parkscruise ships and other vacation experiences were announced by CEO Bob Iger last September.

“You can pretty much conclude that they will end – meaning each of our facilities will benefit from increased investment and therefore increased capacity, including at sea, where we are currently based three more ships,” Iger said during the company meeting first-quarter earnings call in February.

Since its announcement, the company has opened Frozen world at Hong Kong Disneyland and one Zootopia themed land at Shanghai Disney Resort. It will also open Fantasy Stream at Tokyo Disney Resort on June 6. Also, Disney recently received approval to build new lands and attractions at Disneyland and share initial ideas about the “blue sky” concept for Disney World’s expansion plans.

This development agreement, which to date has been supported by both Disney and CFTOD, reinforces both organizations’ continued commitment to investing in Central Florida. Disney’s investment will bring growth and development to the region through new jobs, more tourists and additional state and local revenue.

Negotiations between Disney and CFTOD have not been friendly in the past. The controversial relationship began in 2022 when Disney spoke out against Florida’s so-called “Don’t Say Gay” bill that banned discussion of sexual orientation and gender identity in Florida classrooms, a bill that Governor Ron DeSantis supports.

Disney’s criticism infuriated DeSantis, leading him to eliminate Disney’s autonomy and special tax benefits by taking control of the Reedy Creek Improvement District (now the Central Tourism Supervision District). Central Florida), renamed the area and appointed five hand-picked representatives to the Central Florida Tourism Oversight Board. the board was previously fully controlled by Disney.

Before being ousted, Disney’s board members tried to reach a development agreement, which has left the two in a legal battle ever since. On March 27, Disney and CFTOD reached an agreement voiding any previous development agreements, with both sides agreeing to negotiate a new development plan.

The second and final public hearing to review Disney’s development deal is scheduled for June 12, though it appears the plan will proceed based on a unanimous vote on Wednesday. If that’s the case, Disney World could have an even better makeover in the coming years than Cinderella did before the royal ball.

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