A group of Silicon Valley’s wealthiest people are planning to build a new city northeast of San Francisco. The proposed city, which is still in the early stages of planning, would be called “New Solano” and would be located on over 52,000 acres of land in Solano County.
The investors in the project include prominent venture capitalists, the co-founder of LinkedIn, and the originators of e-payment company Stripe. They have reportedly contributed over $800 million to the project so far.
The plans for New Solano are still vague, but the investors have said that they want to create a “thriving, sustainable, and equitable community” that will be “a model for the future of urban development.” They have also said that they want to address some of the challenges facing Silicon Valley, such as rising home prices, homelessness, and congestion.
The project is likely to face a number of challenges, including regulatory hurdles and local opposition. However, the investors are confident that they can overcome these challenges and make New Solano a reality.
The plans remain vague, but the aim is to create a new city that incorporates the latest technology and design principles. The project is expected to take years to complete, and it is unclear how it will be governed or what the impact will be on the surrounding area.