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NEWS / 2024 / 01 / 17 / BILLIONAIRE-BACKED CALIFORNIA CITY UNVEILS AMBITIOUS DEVELOPMENT PLANS

Billionaire-backed California City Unveils Ambitious Development Plans

12:38 17.01.2024

Promoters of a secretive Silicon Valley-backed ballot initiative are unveiling more details of their plan to build a new city on farmland between Sacramento and San Francisco. California Forever, the company behind the initiative, has quietly acquired over $800 million worth of land in Solano County in recent years. The proposed community would span approximately 30 square miles between Travis Air Force Base and the small city of Rio Vista.

According to a presentation by California Forever, the development would initially consist of nearly 20,000 homes to accommodate 50,000 residents. However, the project has the potential to grow to a population of 400,000, equivalent to the current population of Solano County. The growth would only be possible if the initiative generates at least 15,000 jobs that offer above-average wages.

The plans for the new city include a medium-density downtown area with rowhouses and apartment buildings. The goal is to create a self-sustaining community where residents can live, work, and enjoy recreational activities within walking distance. The project aims to provide essential amenities such as schools, bars, restaurants, and grocery stores.

Approval from county voters is crucial for the project to move forward. In 1984, Solano County residents voted in favor of protections against converting farmland into urban space. To secure the necessary approval, Jan Sramek, CEO and founder of California Forever, and the project's backers are turning to the ballot. Sramek will speak about the initiative on Wednesday, and the group must gather approximately 13,000 signatures from county voters to include it on the November ballot.

The demand for housing, particularly affordable homes for essential workers like teachers, firefighters, and police officers, is high in California and the San Francisco Bay Area. Solano County, located between the Bay Area and the state's capital, is an attractive location for military contractors, agricultural technology companies, and construction tech companies looking to innovate.

Gabriel Metcalf, head of planning for California Forever, believes that by providing a pathway to growth, the initiative can attract major employers and prevent job opportunities from going out of state. Metcalf envisions Solano County becoming a hub for companies that would otherwise look to states like Texas for expansion.

California Forever was established in 2017 and has acquired over 78 square miles of farmland in Solano County. The initiative includes a $400 million plan to assist Solano County residents in purchasing homes in the proposed community. However, critics argue that existing cities such as Vallejo and Fairfield could benefit from investment from Silicon Valley. They remain skeptical of Jan Sramek and the project's high-profile backers, including philanthropist Laurene Powell Jobs, LinkedIn co-founder Reid Hoffman, and venture capitalist Marc Andreessen.

Democratic U.S. Representative John Garamendi has voiced his frustration with the backers' secrecy regarding the property close to a U.S. military base. Garamendi, who has been briefed on the proposed development, believes it is impractical due to the surrounding wind farms, gas fields, endangered species, lack of water and sanitation systems, and inadequate road infrastructure, including a highway system.

In summary, California Forever's ballot initiative aims to develop a new city on farmland in Solano County. The project promises to address the housing shortage in California and attract major employers to the area. However, it faces skepticism from critics who question the suitability of the location and the secrecy surrounding the initiative. The fate of the project now rests in the hands of Solano County voters, who will decide its future in the November election.

/ Wednesday, 17 January 2024 /

themes:  San Francisco  USA

VIEWS: 130


20/05/2024    info@iqtech.top
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