Disney is committing 80 acres of its land in Florida towards affordable housing. A third-party developer has pledged to build 1300 homes across the area. According to a statement from Disney, the residences shall reportedly be “affordable and attainable” and will be available for “qualifying applicants from the general public, including Disney cast members.”
Jeff Vahle, President of Walt Disney World Resort, said about the project: “We are invested in working together with our community to solve complex issues. The lack of affordable housing is affecting many people across our country, including right here in Central Florida.”
“With this initiative, we’re lending a hand to make a real and meaningful impact in our community by tapping into the best of our company’s strengths. This is the right opportunity and the right time to take action.”
The announcement of the project has also re-ignited conversations around wage disparity at Disney. With custodians making a salary of around $15 an hour, living in Florida during a sizeable inflation period is statistically difficult (the average rent in Orlando in 2022 is just over $1800). Worker pay has been juxtaposed to former CEO Bob Iger whose wages ballooned to $65.5 million in 2018.
Current CEO Bob Chapek was paid more than double in fiscal 2021 compared with 2020, with a wage packet of $32.5 million. It brings into question whether the initiative is purely philanthropic or it serves Disney more so in retaining employees.
Similarly, Universal is giving 20 acres of land within Orlando's tourist area for 1,000 units of affordable/mixed-income housing. Universal's scheme also lists several amenities, from preschool, medical offices, transport community gardens, and a sports/leisure area.