Current:Home > reviewsBillionaire backers of new California city reveal map and details of proposed development -FutureFinance
Billionaire backers of new California city reveal map and details of proposed development
View
Date:2025-04-17 10:40:02
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! (86297)
Related
- In ‘Nickel Boys,’ striving for a new way to see
- IMF sketches a brighter view of global economy, upgrading growth forecast and seeing lower inflation
- Police in Sri Lanka use tear gas to disperse opposition protest against dire economic conditions
- German president calls for alliance against extremism as protests against far right draw thousands
- Dick Vitale announces he is cancer free: 'Santa Claus came early'
- X restores Taylor Swift searches after deepfake explicit images triggered temporary block
- 2024 Super Bowl is set, with the Kansas City Chiefs to face the San Francisco 49ers
- Biden to soak up sunshine and campaign cash in Florida trip
- Trump's 'stop
- France’s National Assembly votes on enshrining women’s rights to abortion in French Constitution
Ranking
- Toyota to invest $922 million to build a new paint facility at its Kentucky complex
- It's so Detroit: Lions' first Super Bowl was in sight before a meltdown for the ages
- Outgoing leader says US safety agency has the people and expertise to regulate high-tech vehicles
- What a Jim Crow-era asylum can teach us about mental health today
- Could Bill Belichick, Robert Kraft reunite? Maybe in Pro Football Hall of Fame's 2026 class
- Man who served longest wrongful conviction in U.S. history files lawsuit against police
- Afraid of AI? Here's how to get started and use it to make your life easier
- Florida attorneys who criticized discrimination ruling should be suspended, judge says
Recommendation
In ‘Nickel Boys,’ striving for a new way to see
Undetermined number of hacked-up bodies found in vehicles on Mexico’s Gulf coast
49ers will need more than ladybugs and luck to topple Chiefs in the Super Bowl
France’s government prepares new measures to calm farmers’ protests, with barricades squeezing Paris
Former longtime South Carolina congressman John Spratt dies at 82
Good luck charm? A Chiefs flag is buried below Super Bowl host Allegiant Stadium in Vegas
11-year-old girl hospitalized after Indiana house fire dies, bringing death toll to 6 young siblings
In an aging nation, these states are home to the oldest residents on average