Disney-Owned Developer Plans 1,500-Acre Neighborhood in Triangle
Disney-owned housing developer, Storyliving, unveiled plans to construct a 1,500-acre community called Asteria within the Chatham Park development in Pittsboro. This venture contributes significantly to the Chatham Park development, envisioned by Cary developers Tim Smith and Julian “Bubba” Rawl.
Project Scale and Impact: The Chatham Park development, set approximately 30 miles west of Raleigh, is anticipated to house 60,000 people upon completion over the next two decades. Asteria, occupying a substantial portion, marks Disney’s foray into the residential community business.
Community Features and Theme: Asteria will boast 4,000 housing units, including single-family homes and apartments. Notably, the neighborhood will incorporate Disney-themed activities and events, enhancing the overall living experience. A segment of the residences will be designated for individuals aged 55 and above.
Planned Amenities: The community will offer various amenities, including a gym, restaurant, swimming pools, and a community garden, creating a holistic living environment for its residents. Home sales are projected to commence in 2027.
Disney’s Strategic Move: This initiative aligns with Disney’s broader strategy to diversify its business ventures. Residential communities, conceptualized by Disney’s research-and-development teams, aim to extend the company’s influence beyond theme parks. Asteria follows a similar Disney-backed community announcement in Rancho Mirage, California, marking the company’s growing interest in real estate development.