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A few years ago, Bill Gates has announced plans to build a smart city outside of Buckeye in Arizona. Through his subsidiary Mt. Lemmon Holdings, the billionaire spent $80 million to purchase more than 24,000 acres of land with plans to build a smart city, which will include housing, schools, offices and retail. Since the purchase, there has been limited information on the development of the project.

“In November 2017 the media reported that a company associated with Bill Gates purchased 24,800 acres in the Southern Valley between Buckeye and Tonopah for $80 million,” James DeCremer, principal at Avison Young in Phoenix, tells GlobeSt.com. “Gates’ company plans to create a “smart city” called Belmont on the site, which will be similar in size to Tempe, Arizona. According to the Arizona real estate investment company involved in the deal, Belmont Partners it will be ‘a forward-thinking community with a communication and infrastructure spine that embraces cutting-edge technology, designed around high-speed digital networks, data centers, new manufacturing technologies and distribution models, autonomous vehicles and autonomous logistics hubs.’”

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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