Bill Gates Eyes Arizona For Hi-Tech Planned Community

Arizona meet Belmont, one of these days to be your newest city. Billionaire Microsoft cofounder Bill Gates is behind an $80 million investment in a planned community that will contain as many as 80,000 homes – houses and apartments – as well as nearly4,000 acres of industrial, office, and retail space.

A firm controlled by Gates bought nearly 25,000 acres less than one hour west of downtown Phoenix that had been controlled by Belmont Partners. The new city will be called – that's right – Belmont.

The Arizona Republic, which first reported Gates's involvement, says the development will also include 470 acres for public schools.

The city will be along the path of the proposed Interstate-11, which will connect it to Phoenix.

Belmont will include driverless cars, data centers, high-speed digital networks, as well as advanced communications and infrastructure systems.

There has not yet been announcement on timing for when construction will start or how residents will be selected.

Image via ShutterStock