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15 November 2017, 04:44 | Opal Carroll
Image credit YouTube
The investment firm of Gates the "LLC" paid $80 million for a brand new development of future high tech smart city in the Far West Valley.
Belmont, Arizona, which will house around 160,000 people in 80,000 homes, will embrace "cutting-edge technology" throughout the city, which is to be built on a desert area now occupied by just a few dozen people.
Plus, Gate benefits from nice, cheap land-for a cool $80 million, he's purchased an entire city that will no doubt raise significantly in value once the area becomes desirable for trade.
Belmont Partners, the Arizona-based real investment group that's leading the project, said it will be similar in size to nearby Tempe, Arizona, which has a population of 182,000.
The smart city will be created to feature high-speed networks, data centers, autonomous cars and vehicles, new manufacturing technologies, and automated logistics hubs.
For Mr. Gates-a man who, along with his wife Melinda Gates, has dedicated his life to improving the quality of life for people around the world through the Bill & Melinda Gates Foundation-Belmont is yet another instance in which the Microsoft founder has seen an opportunity for advancing innovation in our world, and invested in it.
Belmont will be located along the proposed freeway I-11, which would run from Reno to Mexico and connect the town to both Phoenix and Las Vegas. "Belmont illustrates that Arizona remains at the leading edge of trends in American urban planning and development keying off of advances in solar power and electric distribution systems, autonomous auto testing, broadband and data centres".
The investment represents the latest example of the excitement that surrounds the rebuilding of cities from the ground up having a digital mind set.
There's no word on when construction will start or even when they hope to have the city completed.
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