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Amid rumors of possible retailers, Disney announces overhaul of Downtown Disney

  • Artist renderings: Disney Springs will include more restaurant and entertainment venues, as well as a lakefront.Walt Disney Co.

  • Artist renderings: Downtown Disney will feature a series of new elevated spaces that provide both shade and an overlook to the activity below.Walt Disney Co

  • Artist rendering: Overview of two of four outdoor neighborhoods planned shows shopping and dining along a promenadeWalt Disney Co

  • Downtown Disney will be transformed into Disney Springs, with over one hundred new restaurants and retail outlets.Disney

Downtown Disney at Walt Disney World is about to be transformed from a quaint main street to a possible modern day Rodeo Drive.

Walt Disney World announced a multi-year plan to remake Downtown Disney, dubbed Disney Springs, that will add more retail, dining and nightlife experiences and features like open-air promenades. Disney says it plans to double the number of shops, restaurants and other venues by 150 more outlets. 

"Disney Springs will be a timeless, vibrant place where Walt Disney World guests and local residents can relax, shop, dine and be entertained in an imaginative setting where they'll instantly feel at home," said Tom Staggs, chairman of Walt Disney Parks and Resorts, said Thursday in a release.

Of course, rumors are rife about which retailers could be featured in the redesign. The unofficial Disney World fan site WDW Magic has sparked a lot of talk about potential restaurants, including the possibility of food trucks and the addition of the popular New York City burger joint, Shake Shack. 

But Shake Shack representatives denied those reports to FoxNews.com.

"As you can imagine, rumors often circulate about our potential openings. With that being said, there is no truth to the recent Disney Springs rumor," said Greg Waters, Shake Shack's senior marketing and communications.

The website Eater is also reporting that another possible retailers could include something from Iron Chef star Masaharu Morimoto.

In addition to food, WKMG in Orlando is also reporting foreign clothing stores such as UNIQLO and more upscale fashion icons like Dior and MAC Cosmetics could be in the mix.

Construction is scheduled to start in April and sections will open in phases. The project is expected to be finished by 2016.

Ricky Brigante, FoxNews.com contributor and editor of the Disney fan site, Inside the Magic contributed to this report.