For the first time in almost 20 years, Disney has submitted plans to the city of Anaheim to build a new luxury hotel on its property. It will be located in the current Downtown Disney parking lot just north of the Disneyland Hotel.

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The new 700-room hotel would be designed by Walt Disney Imagineering, with construction scheduled to begin in 2018, with a target opening in 2021. A theme and a name for the hotel was not announced, but the amenities will include a rooftop terrace, a rooftop restaurant, two pools and a water play area. A new parking structure will also be built.

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“We are excited about our proposal to build the first Disneyland Resort hotel in nearly 20 years,” park spokesperson Suzi Brown said. “This new flagship hotel would create thousands of jobs and benefit Anaheim with more than $750 million in additional tax revenue over the next four decades, while helping the city reach its stated goal of attracting more high-end visitors.”

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concept artwork: © Disney Resorts

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