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Bill Gates linked to $80 million deal to build ‘smart city’ in Arizona

Arizona-based real estate investment group Belmont Partners says the municipality will have high-speed digital networks, data centers, self-driving cars and other new technologies built into its infrastructure. The Republic discovered the connection to ...

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My MarketWatch Watchlist Alerts Games Log In Home Industries Bill Gates linked to $80 million deal to build ‘smart city’ in Arizona By Rachel Koning Beals Published: Nov 14, 2017 4:09 p.mET Share .st0{fill:#FFFFFF;} .st1{fill:#E12828;} .st2{fill:#FAEAEA;enable-background:new ;} .st3{fill:#FAD4D4;enable-background:new ;} window.videoDomain = ''; Getty Images for Bill & Melinda Gates Foundation By RachelKoning Beals News editor A Bill Gates investment firm has purchased nearly 25,000 acres of land for $80 million to build a smart city community in Arizona, about 45 minutes outside of Phoenix, the Arizona Republic reportedArizona-based real estate investment group Belmont Partners says the municipality will have high-speed digital networks, data centers, self-driving cars and other new technologies built into its infrastructureThe Republic discovered the connection to Gates by linking an investment group called MtLemmon to the tax mailing address of the Seattle-area headquarters of Cascade Investments and an office of the Bill and Melinda Gates Foundation MSFT, +0.27%   The investment will help create Belmont, “a forward-thinking community with a communication and infrastructure spine that embraces cutting-edge technology,” according to a press release issued Nov3 Mark Hulbert: Here’s how to get rich like Gates and Zuckerberg The community “will transform a raw, blank slate into a purpose-built edge city built around a flexible infrastructure model,” according to Belmont Properties Read: 5 ways to help fight Alzheimer’s — according to Bill Gates Belmont’s proximity to Phoenix could further develop the region as a hub for self-driving carsAlphabet’s GOOGL, +1.16%   autonomous car company, Waymo announced plans to test a fleet of its driverless vehicles in Phoenix last week Read: Alphabet’s Sidewalk Labs to build tech-focused Toronto development The plan calls for 80,000 residential units, in addition to 470 acres for public schools and 3,800 acres designated for offices, commercial buildings and retail outletsA start date hasn’t yet been reported Quote References MSFT +0.22 +0.27% GOOGL +12.06 +1.16% MarketWatch Partner Center Most Popular Here are the winners and losers of the tax plan the House just passed Stock market ends higher; Cisco, Wal-Mart jump after earnings Fund manager looks beyond ‘FAANG’ stocks and finds even bigger winners for 2018 Beneath a calm surface, the stock market is undergoing a major change Here's what Trump's tax plan means for the stock market Rachel Koning Beals Rachel Koning Beals is a MarketWatch news editor in Chicago. $(function () { if (typeof dianomiUnitCallback !== 'undefined') { var dianomiCallback = new dianomiUnitCallback('articlerightrail', 2583, 'dianomiRightRail', ', '); dianomiCallback.initialize('dianomiRightRail'); } }); $(function() { if (window.MutationObserver) { // arrive breaks if MutationObserver not supported by browser $("#dianomiRightRail").arrive(".dianomiContent", function () { $("#dianomiRightRail").unbindArrive(); $("#dianomiRightRail").trigger("rendered"); }); } else { // TODO ~ remove; listening to this event causes performance problems $("#dianomiRightRail").on('DOMNodeInserted', function () { $("#dianomiRightRail").off('DOMNodeInserted'); $("#dianomiRightRail").trigger('rendered'); }); } }); Rachel Koning Beals Rachel Koning Beals is a MarketWatch news editor in Chicago. 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