To Ease Housing Crunch, Theme Parks Are Becoming Homebuilders
January 13, 2024 by Theme parks like Universal Studios Florida and Walt Disney Co. are addressing the affordable housing crisis in Central Florida by becoming homebuilders. Universal is developing a 1,000-unit mixed-use project called Catchlight Crossings, set to open in 2026, offering amenities and a short commute for service industry workers. Similarly, Disney plans to donate land for a 1,450-unit affordable housing development. These efforts are part of a broader trend where employers, including tech giants like Amazon and Google, invest in workforce housing to support their employees and the local community. However, the impact of such private initiatives on the housing market remains to be seen, with challenges such as community pushback and the need for more government support. The article also touches on the Workforce Housing Tax Credit legislation.