Billions invested in futuristic cities


Bill Gates and other big companies has invested $80 million in a high-tech planned urban development outside Phoenix.

The society in Belmont is planned to be designed around high-speed networks, autonomous vehicles, high-speed digital networks, data centers, new manufacturing technologies and autonomous logistics hubs.

The group that is leading the project, is called Belmont Partners. This project will be a similar in size to nearby Tempe, Ariz., which has a population of 182,000.

Big companies such as Uber, Wymo, and Intel are testing their innovations in the state. Since Arizona has a reputation as being a technology-friendly state, these autonomous vehicle companies are willing to increase their brand in this project.

The investment is the latest example of excitement surrounding rebuilding cities from the ground up with a digital mindset.

The smart cities trend has gained momentum as Silicon Valley’s disruptors shift their focus to transportation innovations such as autonomous vehicles and ride sharing services.

Belmont’s developers are counting on the expected development of Interstate 11, which will serve the area, to boost development. But right now, the company is not rushing to move forward.