Flannery Associates, a group backed by Silicon Valley investors, has purchased 55,000 acres of land in northern California for $800m. Led by former Goldman Sachs trader Jan Sramek, the group’s aim is to build a sustainable new town that operates using clean energy and offers reliable public transportation. The project has garnered support from prominent Silicon Valley figures including Michael Moritz, Reid Hoffman, and Laurene Powell Jobs. Flannery has become the largest landowners in Solano county and is now working with local officials and residents to gauge support for their initiative. However, the group faces legal and regulatory hurdles along the way.
https://www.theguardian.com/us-news/2023/aug/26/silicon-valley-elites-buy-800m-land-new-city