Disney’s involvement in addressing the affordability crisis, particularly in Florida, is centered around its commitment to build affordable housing. Here are the full details about Disney’s efforts:
Overview of Disney’s Affordable Housing Project
- Location and Size: The project involves 80 acres of Disney-owned land near State Road 429 and Hartzog Road in West Orange, Florida. Initially reported as planning for 1,300 units[3][4], recent updates indicate a proposal for 1,410 units[1].
- Developer and Funding: The project will be developed by The Michaels Organization. It is privately funded without government assistance or impact fee waivers, ensuring millions of dollars go towards local infrastructure like schools and roads[1].
- Affordability Structure: More than 1,000 homes will be reserved as affordable housing. A portion will be available to those at the lowest allowable income levels[1].
Community Response
- Support: The project has support from organizations like the Orlando Regional Realtors Association and Habitat for Humanity Greater Orlando & Osceola County. They emphasize its importance in addressing the housing crisis by providing homes for those who cannot afford market rates[1].
- Concerns: Neighboring residents have expressed concerns about overcrowding schools, increased traffic congestion, decreased property values, and insufficient supporting infrastructure. Some argue that while they support affordable housing in principle, they believe the area is not ready for such a large influx of new residents[1].
Broader Context: Affordability Crisis
The broader affordability crisis affects not just low-income individuals but also middle-income families across various age groups due to rising costs of living and a shortage of affordable housing options[2]. This issue has been exacerbated by factors such as high interest rates and reduced construction post-global financial crises.
Disney’s initiative reflects a growing trend where major employers are stepping into address workforce housing gaps by contributing land or resources towards building more affordable homes near their operations[5]. However, balancing community needs with development goals remains challenging.
In summary, Disney’s effort aims to contribute significantly to solving Florida’s affordability crisis through substantial investment in affordable housing projects on its own land without seeking public funding or concessions typically associated with similar developments.
Citations:
[1] https://www.cfpublic.org/housing-homelessness/2024-03-27/despite-protests-disneys-affordable-housing-project-passes-orange-county-board
[2] https://www.nar.realtor/on-common-ground/affordability-crisis-crosses-generations
[3] https://www.forbes.com/sites/joshwilson/2022/06/27/disney-and-universal-pledge-to-build-affordable-housing-to-help-slow-down-housing-crisis/
[4] https://nypost.com/2022/04/12/how-disney-is-helping-to-solve-floridas-housing-crisis/
[5] https://www.bloomberg.com/tosv2.html?uuid=c5983706-5370-11ef-a687-4aca50552047&url=L25ld3MvZmVhdHVyZXMvMjAyNC0wMS0xMy9kaXNuZXktZGlzLXVuaXZlcnNhbC10aGVtZS1wYXJrcy1idWlsZC1ob21lcy10by1maWxsLXdvcmtmb3JjZS1ob3VzaW5nLWdhcA%3D%3D
[6] https://www.wftv.com/unavailable-location/
[7] https://www.clickorlando.com/news/local/2021/09/28/heres-how-disney-other-theme-parks-played-a-role-in-our-affordable-housing-issue/
[8] https://www.reddit.com/r/yimby/comments/1au71x8/disneys_affordable_housing_project_squeaks/
