Published: Tue, November 14, 2017
Worldwide | By Gretchen Simon

Bill Gates Owns Land of Arizona for Building Future Smart City

Bill Gates Owns Land of Arizona for Building Future Smart City

Gates sees the city, tentatively named "Belmont", as a chance to build information networking into the bedrock of any future development there.

A group controlled by Cascade Investment LLC - an investment firm run by Gates - has invested approximately $80m (£61m) to buy almost 25,000 acres of undeveloped land in Arizona for building a planned community of the future, which will be called "Belmont".

It was revealed about a week ago that Gates' investment company, Belmont Partners, had purchased a 53% interest in the land for about $80 million.

The real estate investment group added that the community "will transform a raw, blank slate into a purpose-built edge city built around a flexible infrastructure model". The entire area is nearly underdeveloped at present with only few residents, though the Belmont Partners development partners said that they have huge plans in turning the massive desert into a "smart city". Around 80,000 residences will also be created, forming a population of approximately 182,000. Out of the 25,000 acres, 470 will be used for public schools, while 3,800 acres will go towards retail, office and commercial space.

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Arizona, which neighbours California, home to tech hub Silicon Valley, has always been trying to become the go-to place for innovative technology companies.

As per KPNX, in a press release the Belmont Partners said; it will be creating a community of future with an infrastructure and communication spine that rests on the cutting edge technology of future, equipped around high-speed digital networks, new distribution models and manufacturing technologies, data centres, autonomous vehicles, and also autonomous logistics hubs. Several big players working on autonomous vehicles including Intel, Uber and Waymo are testing innovations in Arizona. A proposed freeway, to be called Interstate 11, would connect Belmont to Las Vegas, Reno and Mexico, making it a good location for a brand new community.

"Belmont is an incredible opportunity for the state of Arizona", Grady Gammage, Jr., an attorney representing Belmont Partners, said in a statement.

Few details have as yet been revealed about when construction on Belmont will begin - or who is likely to live in the city.

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