Elon Musk Wants To Build His Own Texas Town
Elon Musk is a busy man. He runs Tesla, Twitter, SpaceX, and Boring Company. And now it appears he is dipping into house developments. Well, one housing development, that according to the Wall Street Journal will basically be a town designed by Musk for employees.
According to reports from the Wall Street Journal on Thursday, Elon Musk has purchased thousands of acres outside of Austin in Bastrop with the idea of turning it into a "Texas Utopia" along the Colorado River. The idea would be to have employees of Tesla, SpaceX, and Boring live in "new homes with below market rents".
What would the name of the town be? Musk, Tx? Muskville? No, it appears as though "Snailbrook" named after the Boring Co. mascot is the leading name and it's also known as "Project Amazing".
But that's about all that really known about this project, if it's a real project. Reading through the Wall Street Journal article, one can see that there is a lot of secrecy surrounding the project. People aren't even sure how much land Musk actually owns in the area.
The Texas land purchases have taken place through at least four limited liability companies. Those companies are tied to Mr. Musk’s businesses or their officers in county deed and land records and state business filings that list their names.
The plans include a project to build a private residential compound for Mr. Musk that potentially would be some distance from the planned town, according to people familiar with the plans.
Mr. Musk has been a chief driver of the plans, and the land purchases all have to be approved by him, said people familiar with the operation.
Whatever Musk is building, it sounds like a pretty good deal, as long as you stay with the company. In Bastrop County the median rent is over $2,000 a month. According to the Wall Street Journal, employees of Boring were allowed to apply for a home with rent "at about $800 a month for a two- or three-bedroom." Not bad.
So far the planned town in Bastrop County is around 200 acres but reports say that Elon Musk himself could own up to 6,000 acres in the area. There are even plans to convert a home into a Montessori school for up to 15 students.
I'm sure we will learn more about Snailbrook in the coming months and years and who knows, it could be the latest way Elon Musk attempts to change the world.