LAKE BUENA VISTA, Fla. (WTXL/CNN) -- Florida's Downtown Disney is getting a makeover and a new name.

The Walt Disney Company made the official announcement yesterday -- ending weeks of speculation.

Officials say this will be the largest expansion Downtown Disney has seen in its 30-year history.

They are also planning to change its name to Disney Springs to give the area a small-town feel.

The expansion will create more than five-thousand jobs and construction is expected to begin next month.

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