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Bill Gates is investing $80 million and building a smart city in Arizona

Bill Gates has invested $80 million into a planned smart city based outside Phoenix, Arizona, according to local news publication AZ Central. The investment was made through a group controlled by Gates’ investment firm Cascade Investment, which bought a stake in a 24,800-acre development in Belmont. The plan is for 80,000 homes to be built, with 3,800 acres reserved for industrial, office, and retail space, 3,400 acres of open space, and 470 acres dedicated for public schools.

The smart city will be designed to feature high-speed networks, data centers, autonomous cars and vehicles, new manufacturing technologies, and automated logistics hubs. “Comparable in square miles and projected population to Tempe, Arizona, Belmont will transform…

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