Expected to be vacant by June, the land in which Shanghai Disneyland will eventually stand is being cleared for construction. Not just of your typical trees, brush, and debris but the Shanghai government is relocating displaced residents of the land into a new residential community. “Project A1” consists of 6,500 residential apartments with approximately 818 sq. ft. of space each and all of them are expected to be occupied by August 2012.
The residential community adheres to “high-standards in planning, design, construction and management, will feature kindergartens, elementary schools, junior middle schools and senior citizen activity centers,” an unnamed official in charge of the project for Pudong Construction and Transportation Committee, was quoted as saying.
Since officially announcing the project last October real estate in the area surrounding Disneyland’s designated space has soared from $439. per square meter to over $2,000. per square meter despite a dip in residential housing prices elsewhere in Shanghai. The Disney project is expected to cost upwards of $3.66 billion and will include the Disneyland Park, a parking lot, public utilities area, a logistics support area, & possibly a hotel.