Billionaire buys up to 6,000 acres of land in Texas, where he hopes to build shelter from deregulation
Elon Musk has been accused of sacrificing transparency for speed in his attempt to create “Texas Utopia on the Colorado River” This was reported by the Wall Street Journal on Thursday. A billionaire has seized thousands of acres of land in Bastrop County, Texas, which has angered many local residents.
The modern corporate city is growing with little input from residents, and Musk wants even less, according to a report this week citing land records and other documents related to the project.
Called Snailbrook and located 35 miles from the capital Austin, Musk’s private paradise is home to his space exploration company SpaceX and his tunneling venture Boring Co. will be located near the Texas facilities under construction for both companies. . The site is intended to house Tesla workers, with the Texas Gigafactory also located nearby.
Boring Co. executives want to merge Snailbrook to remove any regulatory hurdles that would allow Musk to build new homes and rent them out to tenants who work exclusively for one of his housing companies at a fraction of market rates. Austin area, insiders say. WSJ. Employees who leave or are laid off will have 30 days to move and then have to contend with the region’s average rates, which are about three times higher.
While Snailbrook currently has a cluster of modular homes, a gym, an outdoor sports field and a swimming pool, Musk’s holding company has filed paperwork to build another 110 homes. Boring Co. leadership would be thinking much more broadly in terms of a citywide election requiring a mayor, text messages seen by the WSJ confirm.
However, Bastrop County has not even received a request to join from Musk or his companies, a county spokesperson told the WSJ. A city needs at least 201 residents to join.
While local land records seen by the WSJ show Musk and his proxies have reclaimed more than 3,500 acres near Austin in the past three years, some officials have said the actual number is as high as 6,000 acres. The billionaire is going to build a separate complex for his personal use at some distance from the employee’s residence.
The speed of the transformation — the once-sleepy county’s giant tunnels and massive warehouses sprung up overnight — has alarmed some locals and prompted calls for greater transparency, something Musk has left California to avoid.
The Tesla tycoon has moved the headquarters of the electric car company to Texas at the end of 2021. “over-regulation, overreach and over-taxation” From California.
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