Vancouver-Based Real Estate Companies Collaborate with Disney and DMB Development on New Coachella Valley Development

618-acre Rancho Mirage, California property set for New Disney Home Community

VANCOUVER, BC, Feb. 16, 2022 /CNW/ - EC Rancho Mirage Holdings Limited Partnership, which is led by principals of Clarity Real Estate ("Clarity") and EDC U.S. Development Corp. ("EDC"), announced plans today to collaborate with Disney on a new residential and commercial development named Cotino in Rancho Mirage, Calif.  EC Rancho Mirage Holdings Limited Partnership acquired the property in 2018 and received Specific Plan approval from the City of Rancho Mirage in early 2020.

Where better to plant the first stake in the ground for a Disney-branded community than an area that once felt the footsteps of Walt Disney himself, California's Coachella Valley. The Cotino community will be built in Rancho Mirage, California, in the heart of the Greater Palm Springs area. The brilliant mountain-ringed valley was once a rejuvenating retreat for Walt and Lillian Disney. Architecture and amenities of this community will reflect the history and present-day inspiration of the rich valley culture.

Cotino will welcome homeowners of all ages and will include one section expressly for 55+ residents. Home buyers will have a range of home types to choose from including estates, single-family homes and condominiums. 

Per the Specific Plan approval for the development, the community is expected to surround an approximately 24-acre grand oasis featuring clear turquoise waters with Crystal Lagoons® technology and a promenade area offering vistas of the oasis and the Santa Ana Mountains in the distance. A voluntary club membership will offer access to a waterfront clubhouse, a club-only beach area and recreational water activities, as well as Disney programming, entertainment and activities throughout the year.

Cotino also has Specific Plan approval for a vibrant mixed-use district featuring a range of shopping, dining and entertainment, a beachfront hotel, and a professionally managed beach park with recreational water activities that can be accessed by the public through the purchase of a day pass. 

Cotino is being developed in collaboration with DMB Development, a respected developer of large-scale planned communities in the U.S.  Construction is commencing during the first half of 2022.

About Clarity
Clarity is a private equity platform dedicated to acquiring attractive real estate transactions in thriving markets in the United States. The principals have a track record of top-tier results and value creation executing this strategy with over $3 billion of completed acquisitions.

About EDC
EDC is a second generation, family office real estate investor and property developer based in Vancouver B.C., Canada.  In operation since the 1980's, our company has focused on creating innovative and successful development projects across all asset classes from residential communities to industrial warehousing in Canada, United States and the United Kingdom.  Core to our investment mandate is our entrepreneurial spirit and focus on sourcing and executing on opportunities to deliver market leading absolute returns.

This material contains general information about future proposed community plans which are subject to change or cancellation at any time without notice.  Club membership, programming, and access and use of future proposed amenities and offerings, will require the payment of dues and/or fees and be subject to additional terms and conditions, which will be set by the owner of the club. Availability of club membership and operation of club facilities are not guaranteed. Disney is not the developer of the Cotino™ community or the builder or seller of homes within the Cotino community. The parties developing, and building homes in, the Cotino community are independently owned and operated. This does not constitute an offer to sell, or a solicitation to buy, real estate to residents of any state or jurisdiction where prohibited by law, or where prior registration is required, but has not yet been fulfilled.  Equal Housing Opportunity. Broker participation welcome.  See storylivingbydisney.com for full details.  [Page Pierce, DRE License No. 02161670]

For more information, visit www.cotino.com.

SOURCE Epta Development Corporation