Tech tycoons have purchased $800m of land near San Francisco, where they plan to build a new city.
The 55,000-acre plot has been pieced together over five years in Solano County by Flannery Associates, a consortium spearheaded by Jan Sramek, a 36-year-old former Goldman Sachs trader.
Backers include Sir Michael Moritz, the Cardiff-born billionaire venture capitalist; Laurene Powell Jobs, widow of Apple founder Steve Jobs; Reid Hoffman, co-founder of LinkedIn; and Marc Andreessen, the venture capitalist and software engineer.
The group apparently wants to turn the land, 60 miles north-east of San Francisco, into a city that would run on clean energy, generate thousands of jobs and alleviate California’s housing crisis.
A survey it is reported to have sent out states: “This project would include a new city with tens of thousands of new homes, a large solar energy farm, orchards with over a million new trees, and over 10,000 acres of new parks and open space.”
