The enigmatic company that recently acquired almost $1 billion worth of land near a California Air Force base has strong backing from influential figures in Silicon Valley. Well-known names such as Marc Andreessen, Laurene Powell Jobs, and Michael Moritz are leading the charge to transform tens of thousands of acres in the San Francisco Bay area into a vibrant city. The ambitious plan aims to create a walkable urban center capable of generating thousands of jobs, evoking the charm of Paris or New York City’s West Village. Detailed in an intriguing 2017 thesis by Moritz, the proposal outlines not only the physical layout and design-to-construction process but also the potential for innovative forms of governance.
Moritz’s thesis pitch addresses the adverse consequences of certain California policies, driving the decision to build this new city. In a message to potential investors, he states, “Let me know if this tickles your fancy.” Moritz believes that this endeavor can alleviate some of the pressures experienced in Silicon Valley, including escalating home prices, homelessness, and congestion. Flannery Associates, led by former Goldman Sachs trader Jan Sramek, has acquired approximately 52,000 acres in Solano County for development. Marc Andreessen, a prominent venture capitalist, is among Flannery’s investors who envision the establishment of a private city.
Flannery Associates pursued this endeavor by acquiring land from multiple landowners, whether or not the properties were officially for sale. Notable backers of the project include Moritz, Reid Hoffman (LinkedIn co-founder, venture capitalist, and Democratic donor), Andreessen and Chris Dixon (investors at Andreessen Horowitz), Patrick and John Collison (siblings and co-founders of Stripe), Powell Jobs (founder of the Emerson Collective), and entrepreneurs turned investors Nat Friedman and Daniel Gross. Andreessen Horowitz also supports the venture. Moritz expressed his optimism about the project, saying, “If the plans materialize anywhere close to what is being contemplated, this should be a spectacular investment.”
However, significant challenges remain as the purchased land is currently zoned for agricultural use, not residential purposes. Overcoming zoning regulations will be a critical hurdle for Flannery Associates. In response to these developments, the government, previously unaware of the buyer’s identity or intentions, has launched an investigation.
Building private cities is not an entirely novel concept for investors and tech moguls. Similarly, a group of American investors is exploring the creation of an entirely new city, referred to as Praxis, potentially located in the Mediterranean area. Meanwhile, Elon Musk recently acquired 3,500 acres of land outside Austin, Texas, with plans to establish a town named “Snailbrook.”
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