Tesla Inc and SpaceX CEO Elon Musk is reportedly planning to build his own utopian town in Texas.
What Happened: Musk, who is also the founder of the Boring Company, described his vision for the upcoming town in meetings between land owners, real estate agents, and employees, The Wall Street Journal reported, citing reviewed deeds, land records and people familiar with the matter.
Boring Co. executives have reportedly discussed incorporating the town in Bastrop County, Texas, which is 35 miles from the state capital Austin.
The executives said that Musk wants his Austin-area employees, from SpaceX, Tesla, and the Boring Co, to be able to stay in new homes with rents below the market rates, according to the Journal.
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Why It Matters: Musk, his former girlfriend Claire Boucher, better known as Grimes, rapper Kanye West, and his architectural designer have held discussions in the past on how the town might look like, noted the Journal.
The incorporation of a town would allow Musk to set regulations on a municipal level, people familiar with the matter told the Journal.
County deeds and other land records show that Musk’s companies or executives have collectively purchased at least 3,500 acres in the Austin area, according to the report.
Local real-estate and land officials have reportedly been told by people close to Musk that the entrepreneur owns as much as 6,000 acres.
The town is reportedly already under construction and includes modular homes, a pool, and outdoor facilities for sports and swimming. Poles with signs bearing the text “welcome, snailbrook, tx, est. 2021” have been observed.
Snailbrook is apparently a reference to the Boring Co.’s mascot as Musk challenged his employees in the past to build boring machines that were “faster than a snail.”
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Image and article originally from www.benzinga.com. Read the original article here.