The Central Florida Tourism Oversight District will discuss and vote tomorrow, June 5, on a new 15-year Disney World development agreement with Disney for what on paper is up to a $17 billion in investment into Disney World over the next 10 to 20 years.
The development agreement (which can be found here) requires Disney to make a significant capital investment over an extended period and requires Disney to donate land for public infrastructure improvements necessary to support the new development. The CFTO is tasked to provide public services and facilities needed to support the investment.
According to the agreement, Disney intends to “make significant capital investments over an extended period of years, including up to $17 billion dollars over the next 10 to 20 years. During this plan, at least 50% of project spending by Disney will go to Florida businesses, and they also committed to funding attainable housing projects, allocating a minimum of $10 million over 10years. CFTOD has agreed to make capital improvements to public infrastructure throughout the duration of the development agreement to support WDPR’s investment as well as the surrounding community and the many local commuters that travel across and thru the District daily.
The plan calls for additional hotel rooms, restaurant space and theme park expansions. Something to note about this plan. These expansions are all in generalities. There is no information on what types of expansions will take place or where they will take place. One item that has gotten a lot of attention is that the deal allows for a fifth major theme park to be built. While there has been a lot of speculation on what is called a fifth gate (the four parks are Magic Kingdom, EPCOT, Hollywood Studios and Animal Kingdom). This has been something rumored for a while, but there is nothing that indicates a fifth gate.
Given that building a single land, Star Wars: Galaxy’s Edge, reportedly costs $1 billion, allocating funds for a new gate would require a substantial investment in just one new area. This would be in addition to the planned developments “Beyond Thunder Mountain” at Magic Kingdom and changes to the Animal Kingdom area that have already been announced.
According to the agreement, the number of hotel rooms would increase from 39,801 to 53,467. The retail/restaurant areas would increase from by about 270,000 gross square feet to 1,732,887.
As part of the infrastructure there is a large Capital Improvement Schedule for the district that includes roads, potable and reuse systems, sanitary system, solid waste and stormwater.
Capital Improvements Schedule
Five Year District Roadways – Capital Improvements Project Description
- World Drive North Phase 3 – Construction of a 4 lane divided rural roadway extendingWDN Phase 2 to Floridian Place. Project includes utility relocations; drainage, landscapingand irrigation, etc. Desired completion date – 2026
- Western Way and Buena Vista Drive – Widening from 4 lane urban and rural divided roadto 6 lanes from BVD to East of SR 429 including intersection improvements at Western Way and BVD (flyover). Desired completion date – 2031
- Buena Vista Drive Intersection 5 (Disney Springs Corridor) – Intersection improvementsto reduce congestion during nighttime closing. Desired completion date – 2030
- Buena Vista Drive Dedicated Bus Lanes – Construct additional bus lanes from Bonnet Creek Parkway to World Drive. Desired completion date – 2032
Five Year District Potable and Reuse Systems – Capital Improvements Project Description
- Indirect Potable/Reuse Project. Desired completion date – TBD
- Well Program. Desired completion date – 2030
- Well #2 Construction. Desired completion date – 2027
- Contemporary Reclaimed Water Conversions. Desired completion date – 2028
- Epcot Reuse Water Conversions. Desired completion date – 2030
Five Year District Sanitary System – Capital Improvements Project Description
- Lift Stations Rehabs and Upgrades: #7 & #60 Master Lift Stations, and Duplex Lift StationProgram. Desired completion date – 2028
- WWTP Dewatering Facility 202. Desired completion date – 2026
- Food Waste Transfer Station. Desired completion date – 2024
Five Year District Solid Waste – Capital Improvements Project Description
- Transfer Station Expansion (Class 1 & Class 3). Desired completion date – 2027
- Expansion of Solid Waste Fleet to accommodate growth. Desired Completion Date –ongoing
Five Year District Stormwater – Capital Improvements
Project Description
1. Master Stormwater Model Recommended Improvements/Structure Modifications.
To be discussed between the parties upon completion of the District stormwater model anticipated completion date – 2026.
