“Texas utopia”: Elon Musk plans to build his own city
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Elon Musk plans to build his own city on a plot of several thousand acres of newly purchased pasture and farmland near the Texas capital, according to documents and other land records, as well as people he knows with the project, according to the Wall Street Journal.
In meetings with landowners and real estate agents, Musk and employees of his companies described their vision for the new city as a kind of “Texas utopia along the Colorado River” where his employees could to live and work in new houses with rents about two to three times lower than the market.
The planned city sits next to Boring and SpaceX facilities under construction. The project is already building a group of modular homes, a swimming pool, an outdoor playground, and a gym. January, show plans to build another 110 houses.
Under Texas law, a city must have at least 201 residents before it can apply to register and then be approved by a district judge. According to a spokesperson, Bastrop County has not received applications from Mr. Musk or any of his organizations.
Over the past three years, organizations associated with Mr. Musk's companies or executives have purchased at least 3,500 acres in the Austin area, collectively about four times the size of New York's Central Park. York.
Some local real estate and land officials said people close to Mr. Musk told them that the billionaire owned about 6,000 acres of land in the area.
When Elon Musk left his longtime home in California more than two years ago, he said he had lost patience with the rules and regulations in that state, where Tesla and Boring were headquartered before moving to Texas. California — it is a state of “over-regulation, over-litigation and over-taxation,” — he said in December 2021.
Texas has fewer zoning laws, environmental and labor requirements, and vast tracts of freely regulated land. Unlike California, there is no corporate income tax, and capital gains tax for individuals.
According to insiders, the plans include the construction of a private residential complex for Mr. Musk, which could potentially be some distance from the planned city.
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