Bill Gates Invests $80 Million in Arizona to Build a Smart City

Bill Gates Invests $80 Million in Arizona to Build a Smart City

The entire area is nearly underdeveloped at present with only few residents, though the Belmont Partners development partners said that they have huge plans in turning the massive desert into a "smart city". The area, which will be called Belmont, will include 3,800 acres of industrial, retail, and office space, 80,000 residences, and 470 acres for public education institutions.

Bill Gates is building a "smart city" in Arizona which will feature driverless cars and "cutting-edge" technology.

Bill Gates just bought a 25,000-acre plot of land in Arizona's desert for $80M, where he plans to build a "smart city" from scratch.

What is not clear is how much Gates, who is the owner of Belmont's parent business Cascade Investments, is going to be involved with in the buildout. Four hundred and seventy acres of land has been designated for the making of public schools. The city will be built on the almost 25,000 acres of land in southwestern Arizona that has purchased for the construction.

Belmont Properties stated that the land "will transform a raw, blank slate into a purpose-built edge city built around a flexible infrastructure model".

Meanwhile, Arizona has a reputation as being a technology-friendly state.

Over the past two years Waymo, Google's driverless auto business, Uber, Lyft, General Motors (NYSE: GM - news) and Intel (Euronext: INCO.NX - news) have been testing hundreds of autonomous cars in the city of Phoenix.

Ronald Schott, the executive emeritus at the Arizona Technology Council, not only hailed Gates' initiative but also noted that he picked the right spot for the community as the proposed Interstate 11 freeway running from Mexico to Reno, Nevada will run through the futuristic city.

A fresh start is very hard to achieve in building the cities of the future-unless, of course, you're Bill Gates.Once upon a time, when science fiction authors thought of the future, they imagined glistening towers of glass and steel, in perpetually attractive environments.

Bill Gates the world's wealthiest man has initiated to lay plans relating the making of a "smart city" for people to assimilate new technologies into their lifestyles.

So far, it's unclear when construction will start and if Microsoft will open up an office inside the new town.

Paul Babeu, former sheriff of Arizona's Pinal County, tweeted: "The Jetsons come to Arizona".