The Walt Disney Company has conquered film, theme parks, resorts and retail stores.

Now, they are moving into real estate. Disney is working to build a residential community in Rancho Mirage so fans can come home to Disney magic every day.

In an interview for "LA Times Today," reporter Jaimie Ding told host Lisa McRee what's in store in the new Storyliving community.

"This first community, they're calling it Cotino, and it's going to be in Rancho Mirage over in Riverside County. It's sort of this resort-style living community. The centerpiece will be this gorgeous 24-acre lagoon filled with turquoise water. There will be beaches and water parks and different amenities for the residents that live there, all curated by Disney cast members. Details are unclear, but they do talk about having wellness programs, entertainment events, different community associations, all managed by Disney," Ding explained.

The community will include several living situations for different demographics.

"There's going to be all sorts of different types of residents. There will be a section just for older residents, 55 years and up, more of a retirement community. There also would be areas with condominiums, with single family homes, with different estates as well," Ding said.

In 1995, Disney opened a similar community called Celebration in Orlando near Walt Disney World. Ding compared that project to the new one in Rancho Mirage.

"Celebration was a planned community that was built about 10 minutes away from the Walt Disney Park in Orlando. It was marketed as a quaint 'Main Street U.S.A.' community with a lot of the similar architecture from Disney, the sort of idyllic town that people can live in. I think this new Storyliving community will be a lot more integrated in terms of the experience. Focusing on the club membership that gives you access to all these different amenities, the beach front access, different entertainment and community activities. I think it will be a lot more curated by Disney."

Some of the amenities in the Cotino community will be available to visitors as well. There will be a mixed-use district with shopping, entertainment, and dining that everyone can access. A water park and a beach will also be open for public use.

Disney broke ground on the project last month. Homes in Cotino will go on sale in 2023 and residents can move in in 2024.

Watch "LA Times Today" at 7 and 10 p.m. Monday through Friday on Spectrum News 1 and the Spectrum News app.