Current:Home > NewsBillionaire backers of new California city reveal map and details of proposed development -FinTechWorld
Billionaire backers of new California city reveal map and details of proposed development
SafeX Pro Exchange View
Date:2025-04-09 14:56:34
SAN FRANCISCO (AP) — Promoters of a secretive Silicon Valley-backed ballot initiative to build a new city on farmland between Sacramento and San Francisco are releasing more details of their plan as they submit paperwork Wednesday to qualify for the November election.
California Forever, the company that stealthily snapped up more than $800 million of Solano County land in recent years, envisions a new community on roughly 30 square miles (75 square kilometers) between Travis Air Force Base and the tiny city of Rio Vista, according to a presentation by the group.
The development would start with nearly 20,000 homes for 50,000 residents. It could grow to 400,000 people — which is nearly the current population of Solano County — but only if the project creates at least 15,000 jobs that pay above average wages, the group’s backers say. Plans call for a medium-density downtown with rowhouses and apartment buildings, and jobs, schools, bars and restaurants and grocery stores all within walking distance.
But none of that can happen without approval from county voters, who in 1984 backed protections against turning farmland into urban space. That’s why Jan Sramek, CEO and founder of California Forever, and the project’s backers are turning to the ballot. He’ll speak about the project and the proposed ballot initiative Wednesday, and the group must collect about 13,000 signatures from county voters to place it on the November ballot.
California and the San Francisco Bay Area are desperate for more housing, especially affordable homes for teachers, firefighters, police and other municipal workers who make a city run.
Situated between the Bay Area and the state’s capital, Solano County is an attractive location for military contractors, agriculture technology and construction tech companies seeking to innovate, said Gabriel Metcalf, head of planning for California Forever.
Metcalf said if “we can provide companies with a pathway to growth, we think we’ll get some major employers creating jobs here that would otherwise go out of state, to places like Texas.”
Created in 2017, California Forever has purchased more than 78 square miles (202 square kilometers) of farmland in Solano County. The plan calls for $400 million to help Solano County residents buy homes in the proposed community.
But critics say existing cities such as Vallejo and Fairfield could use investment from Silicon Valley and they remain skeptical of Sramek and the project’s backers, who include philanthropist Laurene Powell Jobs, LinkedIn co-founder Reid Hoffman, and venture capitalist Marc Andreessen.
“This is a pipe dream,” said Democratic U.S. Rep. John Garamendi, who was furious with backers for their secrecy about property close to a U.S. Air Force base.
He said the proposed development, which he also was briefed on, makes no sense “in the middle of areas surrounded by wind farms, gas fields, endangered species, no water, no sanitation system and no road system let alone a highway system.”
veryGood! (73)
Related
- Sonya Massey's father decries possible release of former deputy charged with her death
- Nope, We Won't Get Over Keke Palmer's Radiant Met Gala 2023 Look
- California's destructively wet winter has a bright side. You'll want to see it
- Save Up to 46% On Vince Camuto Sandals, Heels, Sneakers, Boots, and More
- Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order
- Get a $65 Deal on $142 Worth of Peter Thomas Roth Anti-Aging Skincare
- What is there a shortage of? Find out in the NPR news quiz (hint: it's not smoke)
- Met Gala 2023 Red Carpet Fashion: See Every Look as the Stars Arrive
- Meta donates $1 million to Trump’s inauguration fund
- These New Photos of Gigi Hadid and Her Daughter Prove Khai Is Already Her Mini-Me
Ranking
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- What — And Who — Is To Blame For Extreme Heat?
- Matthew Perry Says Keanu Reeves Won't Be Mentioned in Future Versions of His Memoir
- Dancing With the Stars' Len Goodman Predicted His Death 4 Months Before His Passing
- Pregnant Kylie Kelce Shares Hilarious Question Her Daughter Asked Jason Kelce Amid Rising Fame
- Apple 48-Hour Flash Deal: Save $481 on a MacBook Air Laptop Bundle
- Blake Lively Makes Stylish Appearance at First Red Carpet Event Since Welcoming Baby No. 4
- Nicola and Brooklyn Peltz Beckham Are Perfectly Posh at Met Gala 2023
Recommendation
Could your smelly farts help science?
Target's Under $30 Mother's Day Gifts Are Perfect for Every Mom
Joseph Baena Reveals How He Powered Past the Comments About Being Arnold Schwarzenegger's Son
Rain brings much-needed relief to firefighters battling Nova Scotia wildfires
Arkansas State Police probe death of woman found after officer
Taylor Swift Fan Killed By Suspected Drunk Driver After Leaving Eras Tour Concert in Houston
Apple 48-Hour Flash Deal: Save $481 on a MacBook Air Laptop Bundle
Today’s Climate: April 16, 2010