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Silicon Valley billionaires behind new California city pitch voters after stealthily buying $800m of farmland
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Silicon Valley billionaires behind new California city pitch voters after stealthily buying $800m of farmland
Jan 18, 2024 7:29 PM

  The CEO of California Forever, Jan Sramek, a former Goldman Sachs trader with backing from high-profile Silicon Valley figures like Laurene Powell Jobs, Reid Hoffman, and Marc Andreessen, has revealed his ambitious plan to build a new, affordable, and walkable city in rural Solano County northeast of San Francisco. The project aims to construct at least 20,000 homes, targeting the critical need for housing that's accessible to teachers, firefighters, and other essential workers. However, this proposal faces significant opposition from environmental groups, local farmers, and Congressman due to concerns over potential urban sprawl, ecosystem harm, and strain on the region's water supply.

  Sramek’s company has been acquiring farmland covertly over several years and now possesses more than $800 million worth of land in the area. The development hinges on a voter-approved measure in November to bypass the county's agricultural land preservation rules established in 1984. If successful, the community would be designed to accommodate up to 50,000 residents initially, eventually growing to a population of 400,000 if job growth meets certain thresholds.

  To garner support, the initiative includes a substantial initial investment of $400 million towards assisting Solano County residents and Air Force base families with home purchases, as well as funding for affordable housing projects for seniors, veterans, and farm workers. Despite these promises, critics are skeptical about the intentions of wealthy outsiders and question whether the infrastructure can handle such rapid expansion.

  Sramek insists the project is not about financial gain but rather creating a sustainable community that could restore California's reputation as a place of optimism and innovation. He acknowledges the challenge of overcoming voter cynicism and distrust, but remains determined to push forward with the campaign regardless of the cost. A crucial next step involves obtaining a ballot title and summary from the county before launching a signature-gathering effort to place the measure on the November ballot.

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