To take advantage of the city’s new policy giving tax incentives to build luxury hotels, Disneyland officials submitted plans Tuesday to add a fourth Disney-themed hotel at the resort.

Disney proposes a 700-room, four-diamond hotel and a parking structure on 10 acres at 1401 Disneyland Drive, at the north end of the Downtown Disney parking lot. Construction on the hotel would start in 2018 with a slated opening in 2021.

An aerial view of the Disneyland Resort. The new proposed “Four-Diamond” hotel would take up 10 acres in what is currently the main Downtown Disney parking lot.

Walt Disney Imagineering will design the hotel, which currently doesn’t have a theme, Disneyland officials said. Guests will dine in an upscale rooftop restaurant watching Disneyland’s nightly fireworks over Sleeping Beauty Castle. There will be two pools, a fitness facility, concierge service and a kid’s play area. The average nightly rate would be about $450.

The proposed hotel would be the first built at the Disneyland Resort in nearly 20 years and comes as the resort starts construction on the 14-acre “Star Wars” land expected to boost attendance to Disneyland.

The Disneyland Hotel and the Disney Grand Californian Hotel & Spa are the only two properties in the city that fit AAA’s strict guidelines for the luxury four-diamond rating. The Paradise Pier is considered a three-diamond property.

To receive the four-diamond rating, Disney must spend at least $225,000 per guest room, including $30,000 in furniture, fixtures and equipment in each room.

Disneyland officials did not say how much the 1401 Disneyland Drive project will cost, only that they are investing more than $2 billion in their resort over the next decade – that includes the construction of “Star Wars” land in Disneyland and a 5,000-spot parking structure and transit center nearby.

This fourth hotel is not part of the $1 billion investment deal Disney struck with the city last year to ban a gate tax for at least 30 years.

Disneyland is already entitled to build hotel rooms in the the Downtown Disney parking area.