Belmont Partners, a group controlled by Gates’ investment firm, Cascade Investment, has invested $80m in the project, buying 24,800 acres of land in an area 40 miles west of Phoenix. The development, which will be called Belmont, will be home to some 180,000 people.
Belmont’s vision is to create 80,000 homes, with 3,800 acres reserved for industrial, office, and retail space, 3,400 acres of open space, and 470 acres for schools.
The smart city will feature high-speed networks, data centres, autonomous vehicles, new manufacturing technologies and automated logistics hubs.
According to Belmont, the development will, “…transform a raw, blank slate into a purpose-built edge city built around a flexible infrastructure model.”
The new city appears to be a larger-scale version of the Digital City, Quayside, in Toronto, plans for which were unveiled by Google last month. Quayside’s 3 million sq ft will feature super-speed Wi-Fi, sustainable energy and driverless cars, all supported by millions of interconnected sensors.