U.S. real estate investment trust American Campus Communities and Walt Disney World, an entertainment complex in Florida, have started the building of a new housing community for Walt Disney World’s Disney College Program for Cast Members, known as Disney Internships & Programs.
American Campus Communities will serve as the manager, owner and developer of the new $630 million residential community through a 75-year ground lease.
The new development will include two 25,000-square-foot community centers that program participants will have access to.
This community, which will facilitate up to 10,400 participants with both private and shared accommodations all at affordable price points, will open in multiple stages, with the initial stage scheduled to be available to participants in May 2020, reaching total wrap up in May 2023.