Re:Tech Billionaires' Quest to Build a New City in Californi...
by schlauerfox on Saturday December 09, 2023 @12:55AM
(#38579054)
No idea in this master plan, inorganic cities suffer eventually the oversights of their designers. As to how to monetize a city, check out Santa Clarita, or before that San Clemente/Mission Viejo, or before the families that own Long Beach or Vernon. Oil.
They acquired the spanish land grants by hook or crook, kept the oil/mineral rights and the commercial properties as leases and sold the houses plots off (except Vernon which has almost 0 residential). This lets them perpetually gain rent and oil money. Some are even worse like Lennar who puts 'runs with the land' deed provisions that each sale/transfer you must donate a significant percent to their "Charity" which is run by the corporate owners of questionable administrative overhead and goals.
But forget it Jake, It's Chinatown.
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