Disney announces Asteria, new residential community in Chatham County

Disney is planning to open a new residential community in Chatham County.

The 1,500-acre community known as Asteria will include 4,000 single-family and multi-family homes. It includes housing aimed at people aged 55 and older.

"It’s gonna put about $4 billion on the books. It’s a tremendous project," Tim Smith, Preston development company, DMB development arm for Disney said. "This is only about 20% of what Chatham park will be so multiply that by five for what Chatham Park will be."

The project is in initial stages of development with home sales set to begin by 2027.

“We are excited to learn that Storyliving by Disney selected Pittsboro, North Carolina, for its second residential community in the United States," Mike Dasher, Chair, Chatham County Board of Commissioners said. "Chatham County looks forward to working with the Town of Pittsboro, Disney, Chatham Park, and DMB Development as the Asteria community comes to life in the coming years. This announcement is the latest major economic development project to choose Chatham County. We are thrilled about the innovative and unique lifestyle that this community will offer our residents as well as a variety of great jobs for our local and regional workforce.”

Disney's development of the location began 3.5 years ago, culminating in the deal being finalized last week.

“The announcement of the Asteria community builds upon strong initial interest for our first Storyliving by Disney community in California and will expand Disney-branded communities to the East Coast,” said Claire Bilby, senior vice president and general manager of Disney Signature Experiences Emerging Businesses. “Our team has been working closely with Disney Imagineers to develop a unique vision for this project inspired by Walt Disney’s innate curiosity and North Carolina’s spirit of discovery.”

The Asteria community is in the beginning stages of planning with Walt Disney Imagineering and Scottsdale, Arizona-based DMB Development.

The Asteria community will be part of the larger, award-winning Chatham Park master-planned community by Preston Development Company, co-founded by Julian “Bubba” Rawl and Tim Smith.

“For nearly 15 years, Chatham Park has set the standard for innovative growth and thoughtful planning,” Rawl said. “We feel an extraordinary sense of responsibility to our residents and the broader community with this project and we’re incredibly fortunate to work with Disney, DMB Development and homebuilders to create something truly special.”

Asteria will include parks, a clubhouse, a wellness and recreation center, restaurant, sport courts, swimming pools, a community garden and a trail system.

The club will feature enrichment programming by Disney. 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.

“We’re looking forward to collaborating with Disney to bring another Storyliving by Disney community to life,” said DMB Development CEO Brent Herrington. “Just as the desert setting inspired our teams with the Cotino community, North Carolina’s rich landscape and history is at the heart of our initial planning work with Walt Disney Imagineering.

“We’ve got a lot of great ideas to showcase the beauty of this area.”

The Asteria community is the second announced Storyliving by Disney community in the U.S. following the Cotino community, which is currently under development in Rancho Mirage, California.

Pre-sales appointments for homebuying in the Cotino community are now underway. Additional Storyliving by Disney locations are under exploration.

In 2004, Disney sold its downtown Celebration development in Florida to private investors.

"It’s hard. Growth is hard. Growth can be exciting and growth can be hard," Kyle Shipp, Pittsboro Mayor-Elect, town commissioner said. "Critical we work with all of the stakeholders to have development that works for the local flavor and local character."

The Asteria community will offer future residents a unique lifestyle thanks to distinctive Disney placemaking. A range of home styles will line quaint streets leading to a mix of community amenities designed to showcase the area’s surrounding natural beauty. Aligning with Chatham Park’s commitment to open green space and to encourage exploration, the community will feature acres of neighborhood parks and miles of beautiful walking and biking trails where residents can connect with the outdoors.

Asteria community homeowners will become part of a club with amenities planned to include a wellness and recreation center, restaurant, sport courts, swimming pools, community garden and plenty of outdoor space for lawn games, events and fire pits.

"If you’ve been to disney world and seen architecture and the landscaping and all they do, that’s what they’re going to transfer here," Smith said.