TradeEdge Exchange:Disney plans more residential communities, and these won't be in Florida

It's no guarantee of a fairy-tale life,TradeEdge Exchange but living in a residential community dreamed up by Disney will soon be an option for those looking for a new home, even outside of Florida.

More than a quarter of a century after Disney developed a planned community near Walt Disney World in central Florida, the theme-park operator and entertainment giant says residential housing developments are in the works in Rancho Mirage, California, and Pittsboro, North Carolina. The company is also looking at additional locations for future developments. 

The community, dubbed Asteria, will be built on 1,500 acres in North Carolina's Chatham County and include more than 4,000 single-family and multifamily homes, with some sites designated for the 55 and older crowd. 

The announcement expands "Disney-branded communities to the East Coast," Claire Bilby, senior vice president and general manager of Disney Signature Experiences Emerging Businesses stated Wednesday in a press release.

"A range of home styles will line quaint streets," and homeowners will be members of a club offering a wellness and recreational center, restaurant, sports courts, swimming pools, community garden and space for lawn games, fire pits and events. 

"Some of the experiences under consideration include storytelling dinners inspired by Disney tales, lessons with Disney artists and family fun days with Disney-themed activities," the release stated.

Sales for homes in Asteria are expected to begin by 2027.

Another Storyliving by Disney community called Cotino is further ahead, with home sales expected to start in early 2024. Builder Shea Homes is developing 327 home sites, the company announced in November. The 618-acre community has plans for more than 1,900 residential units, including single-family homes and condominiums. 

Prices for Asteria residences depend on the builder, but single-family homes in Cotino are expected to start from the upper $1 million range to the lower $2 million, according to the Storyliving website. 

In:
• The Walt Disney Company
• North Carolina
• Disney
• California

Kate Gibson

Kate Gibson is a reporter for CBS MoneyWatch in New York.