The first Storyliving by Disney development will be named Cotino – it will be located in Rancho Mirage, in California's Coachella Valley. Disney's so-called Walt Disney Imagineers, who are responsible for designing the firm's theme parks, will work with real estate developer DMB Development to realize the plans.

Would-be homeowners will be able to choose from a selection of different single-family homes, condominiums, and more. The dwellings will be spread over multiple neighborhoods for all ages, as well as at least one neighborhood for those over 55 years old only.

The development will be arranged around a 24-acre (9.71-hectare) lake. Judging from the early images (which, to be clear, are subject to change), Cotino's houses and buildings will be surrounded by significant greenery and multiple water features. It certainly looks like a pleasant place to live, as amenities will include access to a waterfront clubhouse and a beach area with water activities, plus there will be other Disney-themed entertainment and activities.

"For nearly 100 years, Disney has shared stories that have touched the hearts and minds of people all around the world," said Josh D'Amaro, chairman of Disney Parks, Experiences and Products. "As we prepare to enter our second century, we are developing new and exciting ways to bring the magic of Disney to people wherever they are, expanding storytelling to storyliving."

Further details are still light at this stage – we don't yet know the prices of the homes, the date of completion, or other future locations, for example – but we can expect more information to be revealed as the project moves forward.