An investment firm controlled by Bill Gates recently purchased a large tract of land in west Phoenix for $80 Million. The 25,000 acres will become a housing development called Belmont. It is 25 minutes west of downtown Phoenix, off of I-10 near Tonopah. The proposed community will be built as a “smart city” with advanced cutting-edge communication and infrastructure. A news release stated, “Belmont will create a forward-thinking community with a communication and infrastructure spine that embraces cutting-edge technology, designed around high-speed digital networks, data centers, new manufacturing technologies, and distribution models, autonomous vehicles and autonomous logistics hubs”. The land is next to the proposed I-11 freeway which will connect Phoenix to Las Vegas. No timeline for the construction of the development has been released yet.
The fact that Bill Gates is betting big on Arizona real estate is definitely another indicator of the strong upward real estate trends in the Phoenix metro area.
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Carmen Brodeur JD
Trillium Properties, LLC
Cell (602) 791-0536