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Nov 22, 2017
Schedule for Construction of Arizona Smart City Supported By Bill Gates Remains Unknown
Bill Gates has backed up his enthusiasm for the concept of a smart technology community in Arizona with some real money: $80 million to be exact.
The founder of the Microsoft Corporation, Gates is behind an innovative project that could see the building of what would be a small town centered around high-speed digital networks, data centers, and even autonomous vehicles.
Through an investment group connected to the Gates Investment Company, the legendary inventor and entrepreneur has put up $80 million to build in Belmont, some 40 miles to the west of Phoenix.
The project is being spearheaded by the real estate investment firm Belmont Partners of Scottsdale. Gates’ investment is specifically targeting the planning and development of the desert community.
That 25,000-acre chunk of land could ultimately see the construction of more than 80,000 housing units, along with the development of 3,800 acres of commercial, industrial and office space.
How dependent the project will be on the construction of the proposed federal Interstate 11, which will ultimately run from Mexico to Canada with a 5-mile stretch slicing through Belmont, remains unknown.
A timeline for the development and construction of the unique community also remains unknown.