A Smart City version of the Valley? Silicon Valley billionaires buy thousands of acres of land for new city near San Francisco
Sources: NYTimes, WSJ, SFGate
A mysterious company known as Flannery Associates has been quietly buying up land in Solano County for years, including near Travis Air Force Base. The company has amassed over 52,000 acres of land, making it the largest single property owner in the county. However, it was never clear who was behind the purchases or what they planned to do with the land. The acquisitions border the Air Force base on three sides, sparking concerns about national security.
Recently, the New York Times reported that several Bay Area tech billionaires, including Michael Moritz, Reid Hoffman, and Marc Andreessen, are among the individual names behind Flannery Associates. The coalition also includes Laurene Powell Jobs, widow of the late Apple CEO, and is overall a “who’s who of Silicon Valley.” The Times’ reporting relied on three unnamed sources “who were not authorized to speak publicly about the plans.” However, Brian Brokaw, a spokesperson for the investor group, confirmed in the story that Flannery Associates is a collective of “Californians who believe that Solano County’s and California’s best days are ahead.”
The Times also reportedly viewed a pitch document Moritz had sent to a potential investor in 2017, in which he described building a walkable new city in an underdeveloped and inexpensive part of the Bay Area. A survey had circulated to Solano County residents asking for their opinions on the potential development of “a new city with tens of thousands of new homes, a large solar energy farm, orchards with over a million new trees, and over ten thousand acres of new parks and open space.” This survey was the first indication of what Flannery Associates may be planning to do with the land.
Despite its land grab, Flannery Associates has never made public what it intends to do with 52,000 acres of Solano County. In a lawsuit filed in May, the company accused area landowners of colluding to drive up prices after learning of the investment group’s interest in the properties. The group acknowledged spending at least $800 million on parcels in its May suit, although the Times reported that it was “unclear” how much each investor had contributed to the total. The Wall Street Journal reported that the group has now spent close to $1 billion on Solano County properties.
The mystery of Flannery Associates’ land purchases has been solved, revealing a group of tech billionaires behind the purchases. The groups’ plans for the land are still unclear, but a survey and a pitch document suggest that they may be planning to build a new city with tens of thousands of new homes, a large solar energy farm, orchards with over a million new trees, and over ten thousand acres of new parks and open space.