Bill Gates invests $80 million to build a ‘smart city’ in the desert
Bill Gates, the world’s richest person and co-founder of Microsoft is planning to build a ‘smart city’ just outside of Phoenix, Arizona desert. The tech billionaire’s investment group, Cascade Investment, paid about $80 million for a stake in a 24,800-acre development which is located just 45 minutes outside of Phoenix, called Belmont.
The desert land is currently under development entirely. However, developers Belmont Partners plan to build 80,000 homes, 3,800 acres of the industrial zone, offices, and retail space. In addition, 470 acres for public schools will also be allocated, leaving about 3,400 acres of open land.
According to Belmont partners,
“We are planning to create a forward-thinking community with a communication and infrastructure spine that embraces cutting-edge technology, designed around high-speed digital networks, data centers, new manufacturing technologies and distribution models, autonomous vehicles and autonomous logistics hubs.”
The new ‘smart city’ will also feature proposed freeway with 1-11 lanes, which will spread across the way to Mexico from Reno. The highway will connect two major states of the US i.e. Phoenix and Las Vegas.
Chris Jones, an Arizona based urban planner thinks that building the smart city and investing in this region is not a wise thought. The region has been facing geographical problems like hurricanes, ongoing water crisis and a long distance from Phoenix. While the Cascade investors are quite confident in their investment as they see a bright future for this region.
Bill Gates and several other tech billionaires are already investing in various innovative projects all across the globe. Alongside, investing Bill Gates also takes interest in philanthropic activities like recently he offered $10 million to those who can solve world’s challenges.