Tech billionaires are launching a “California Forever” project to build a new utopian city on land in the northern Bay Area. The project has been put on hold until 2026 and will likely be put to a local vote that year, but TechCrunch has learned that this isn't the only development project techies are working on.
Marc Andreessen, an investor in the California Forever project, is also tied to another nearby development. His wife, Laura Arrillaga-Andreessen, is the daughter of Silicon Valley real estate mogul John Arrillaga Sr. and left land to her children in the same area where California Forever hopes to build. Arrillaga-Andreessen's siblings have begun the approval process for a mixed-use development that would include more than 1,000 housing units.
Why are these powerful families vying to develop this land, and how are locals responding? Find out more in today's TechCrunch Minute.