Walt Disney World Resort set aside approximately 80 acres of land in Flamingo Crossings, Fla., to bring more than 1,300 affordable housing units to the market. The project, which is still in the early planning stages, is yet to be fully approved. Disney is currently doing due diligence work with an affordable housing developer.
The community will contribute to filling the gap within the Central Florida affordable housing market. It will be close to Disney’s Central Florida theme parks, schools and the Flamingo Crossings Town Center retail and dining development in Lake Buena Vista, Fla. The community will be available for the general public, as well as for Disney cast members.
The need for affordable housing continues to grow across the country. According to the National Low Income Housing Coalition, there is a shortage of 7 million affordable units across the U.S. The Greater Orlando area only has six other fully-affordable communities, totaling 710 units, now under construction, which is fewer than this Disney project will bring to the market, Yardi Matrix shows.