Get ready for a magical real estate journey! Disney's Cotino Storyliving community is creating quite the buzz in Rancho Mirage, California.
A recent report has revealed that approximately 30 homes have found their new owners in this enchanting neighborhood. But here's where it gets controversial...
According to The Desert Sun, public records show that a few dozen homes have been constructed, with about 30 of them already sold. And this is the part most people miss: Cotino has the green light to build over 1,900 homes and condos, with the initial phase featuring around 300.
These homes have been snapped up by individual buyers or trusts, with prices ranging from $1 million to over $4 million. Most of the homebuyers are from the sunny state of southern California. Disney shared with The Desert Sun that there are more potential homeowners in the pipeline, but they're keeping the exact numbers under wraps for now.
Claire Bilby, the senior vice president and general manager of Disney Signature Experiences Emerging Businesses, said, "Cotino, our multi-year community planned for roughly 1,900 homes, is gaining momentum as we progress through the first phase. The opening of the Artisan Club and the arrival of our first residents offer a glimpse of the Cotino lifestyle, with more exciting milestones on the horizon, including Cotino Bay Beach, Dining, and Shops opening later this year."
The Artisan Club is the talk of the town, offering an array of amenities with membership. Think a gathering space inspired by The Incredibles 2's Parr House and wellness programming to keep residents active and healthy.
The Bianco Group, a real estate agency in southern California, shared their insights with The Desert Sun. According to them, most buyers are out-of-towners seeking a second home in the desert.
James Bianco, the founder of The Bianco Group, said, "The Disney magic is what initially draws people to the Cotino community. But with the recent drop in interest rates, we've definitely seen an increase in interest."
Bianco added, "I've never come across a community as beautiful and well-equipped as Cotino. It's truly one-of-a-kind."
And if you thought Cotino was the only Disney-inspired community, think again! Another Storyliving By Disney community named Asteria is currently under construction in Pittsboro, North Carolina.
So, what do you think? Is Disney's foray into real estate a brilliant move or a controversial one? We'd love to hear your thoughts in the comments below!
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