The Walt Disney Company has officially spent a staggering eight figures to purchase a plot of land in North Carolina, marking the beginning of a major expansion outside the state of California. While some fans may have assumed Disney’s latest move involves a new theme park, it’s actually for something a bit different: a new Storyliving by Disney community.
In 2023, Storyliving by Disney revealed plans to build a second community, “Asteria,” in Pittsboro, North Carolina, just outside Raleigh. Named after the native North Carolina aster flower and the Greek goddess Asteria, whose tears were said to have fallen to Earth and sprouted the first aster plant, this marks the second Disney-owned community after “Cotino” in Rancho Mirage, California.
According to WRAL News, Disney completed the first phase of a nine-step process in acquiring 1,500 acres of land in Pittsboro in March. The company reportedly spent $23.3 million on the first 217 acres of the site. After finalizing the purchase, Storyliving by Disney plans to develop 4,000 single-family and multi-family homes on the land. The community will be designed for long-term residents, and the sales process is expected to begin in 2027.
The development is a collaborative effort between Disney, under the company’s Stanley Living at CP LLC, and DMB/SWVP Raleigh, an LLC tied to the Scottsdale, Arizona-based real estate developer DMB Development. The development plans, which are set to be made public in May, will include a mix of homes and communal spaces, complete with Disney-themed activities, immersive storytelling dinners, and more. Disney cast members working in Asteria will provide the same legendary service that Disney Parks fans know and love.
Storyliving by Disney describes Asteria as “an oasis for lifelong learners,” and Walt Disney Imagineers are designing the community with public meeting areas, green spaces, and facilities perfect for “meeting new friends who share a passion for living life to its fullest.”
While Storyliving by Disney has not yet revealed the prices for homes in Asteria, the company’s first venture, Cotino, is known for its pricey real estate. Homes and condos in Cotino range from the upper $2 million to the upper $4 million, so prospective buyers in Asteria should expect similarly high price tags.
This new project is another chapter in Disney’s expansion into new markets, offering fans a chance to live in a Disney-themed community that promises to provide the magic and service of Disney’s theme parks, without the crowds and with the comforts of home. For those curious about Asteria, you can join the Storyliving by Disney email list for updates.
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