PHOENIX — A billionaire's proposal to build a sustainable city in Arizona has at least one local technology leader excited, but real estate experts pointed out a few significant challenges to bringing the massive metropolis to the state.
Marc Lore, the co-founder of Diapers.com and former president and CEO of Walmart U.S. eCommerce, announced plans for the futuristic city dubbed Telosa on Sept. 1. As planned, the city would consist of roughly 234 square miles and have a population of 5 million people over 40 years.
Other places Lore is considering include Idaho, Texas, Nevada, Utah and the Appalachian region. The Telosa website said the company will reach out “very soon” to state officials to determine where the city could be built.
Steve Zylstra, president and CEO of the Arizona Technology Council, said he found out about the idea over the weekend when news started to spread.
“Arizona is a perfect spot for this,” Zylstra said.
The biggest challenge for the city, according to the Telosa website, is finding the right location for the development, which is intended to be as dense in population as San Francisco.
Read more of this story from the Business Journal.
