Elon Musk decided to build a city for employees of his companies in Texas — WSJ
It will have houses for employees of SpaceX, Tesla and Boeing Company, which can be rented at below-market prices, sources told the publication.
Author: Samantha Carroll
11/18/22
Author: Samantha Carroll
11/18/22
Elon Musk plans to build a city of thousands of acres about 56 km from the city of Austin in Texas, told The Wall Street Journal, citing documents and information from sources familiar with the project.
In three years, organizations associated with Musk's companies or employees have bought at least 3,500 acres (about 14 km2) near Austin. Local real estate officials said the billionaire owns 6,000 acres (24 km2). When buying, they were asked to sign non-disclosure agreements, the participants of the transactions told the WSJ.
The city is planned to be built next to the Boring Company and SpaceX facilities under construction. The project includes modular houses, a swimming pool, sports grounds and a school, sources say. Musk's residence is also planned nearby. The sign "Welcome, Snailbrook, Texas, 2021" has already appeared on the site.
Bastrop County Court documents filed in January 2023 have plans to build 110 homes near Snailbrook. Several street names have already been approved, for example, Boring Boulevard, Waterjet Way and Cutterhead Crossing.
Boeing Company President Steve Davis sometimes described construction plans at corporate meetings, company employees said. In 2022, Davis said that a mayoral election would have to be held there.
According to Texas law, at least 201 people must live in the city to apply for registration. While Bastrop County has not received applications from Musk or his representatives, the local administration responded.
According to internal documents, in 2022, Boring offered employees houses for rent near work. The price for a two— or three-bedroom property starts from $800 per month. After her dismissal, she must be released within a month. The average rent in Bastrop is about $2,200 per month, according to the real estate company Zillow Group.
The former head of Wal Mart, Mark Lore, also has plans to build his own city. The budget of the project with an area of 150 thousand acres is $ 400 billion.
In three years, organizations associated with Musk's companies or employees have bought at least 3,500 acres (about 14 km2) near Austin. Local real estate officials said the billionaire owns 6,000 acres (24 km2). When buying, they were asked to sign non-disclosure agreements, the participants of the transactions told the WSJ.
The city is planned to be built next to the Boring Company and SpaceX facilities under construction. The project includes modular houses, a swimming pool, sports grounds and a school, sources say. Musk's residence is also planned nearby. The sign "Welcome, Snailbrook, Texas, 2021" has already appeared on the site.
Bastrop County Court documents filed in January 2023 have plans to build 110 homes near Snailbrook. Several street names have already been approved, for example, Boring Boulevard, Waterjet Way and Cutterhead Crossing.
Boeing Company President Steve Davis sometimes described construction plans at corporate meetings, company employees said. In 2022, Davis said that a mayoral election would have to be held there.
According to Texas law, at least 201 people must live in the city to apply for registration. While Bastrop County has not received applications from Musk or his representatives, the local administration responded.
According to internal documents, in 2022, Boring offered employees houses for rent near work. The price for a two— or three-bedroom property starts from $800 per month. After her dismissal, she must be released within a month. The average rent in Bastrop is about $2,200 per month, according to the real estate company Zillow Group.
The former head of Wal Mart, Mark Lore, also has plans to build his own city. The budget of the project with an area of 150 thousand acres is $ 400 billion.
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