Saturday, August 26, 2023

The Most Nightmarish HOA Ever Created

Developers essentially building cities from scratch has a history, even a fairly recent one, but I suspect my guys will set out to build the West Village and, inevitably, build Irvine.
In 2017, Michael Moritz, the billionaire venture capitalist, sent a note to a potential investor about what he described as an unusual opportunity: a chance to invest in the creation of a new California city.

The site was in a corner of the San Francisco Bay Area where land was cheap. Mr. Moritz and others had dreams of transforming tens of thousands of acres into a bustling metropolis that, according to the pitch, could generate thousands of jobs and be as walkable as Paris or the West Village in New York.