The worlds richest man, Bill Gates, has made a smart move by investing the sum of $80m into a planned smart city to be situated outside Phoenix, Arizona.A group controlled by Bill Gates, Cascade Investment, bought a stake in a 24,800-acre development in Belmont.
They have a plan for 80,000 homes to be built, reserving 3,800 acres for industrial, office and retail use, 3,400 acres of open space and 470 acres for public schools. This city will be featuring high-speed networks, data centres, autonomous cars and vehicles, new manufacturing Technologies and automated logistics hub.
Belmont Properties said in a statement, “Comparable in square miles and projected population to Tempe, Arizona, Belmont will transform a raw, blank slate into a purpose-built edge city built around a flexible infrastructure model.”
This concept of smart cities is actually gaining a momentum over the past few years as we see Alphabet’s Sidewalk Labs, last month, concluding negotiations on an 800-acre space in Toronto due to be designed into an “internet city” equipped with modern technology like self-driving cars, smart street lights, and public Wi-Fi. This company is aiming to transform 16 cities into tech-friendly “laboratories.” They are concluding the Toronto project with a $50m commitment to testing the smart city technology.