Albert Fong’s Post

California Forever is the brainchild of Czech-born former Goldman Sachs trader and entrepreneur Jan Sramek. He came up with the idea after a yearlong exploration of improving housing availability within the city promised not to be an effective solution, he tells Axios. He's since raised over $800 million from investors like Mike Moritz, Reid Hoffman, Marc Andreessen, John and Patrick Collison, Laurene Powell Jobs, Chris Dixon, John Doerr, Nat Friedman, Daniel Gross, and Andreessen Horowitz. The company also quietly amassed more than 50,000 acres of land it bought from residents, suing some of them for price collusion. The project's pitch is that the new city will alleviate some of the Bay Area's housing problems and fill out the region connecting it to Sacramento. Recently unveiled plans heavily borrow from New Urbanism, emphasizing walkable neighborhoods and a mix of housing (both for sale and rent) at varying prices. Part of the plan is to bring in at least 15,000 jobs. To achieve that, California Forever is in talks to get companies to open satellite offices there, says Sramek. He's reaching out to well-known tech employers and companies in industries like defense, aerospace, advanced manufacturing, and biotech that need space for facilities. "It's not an expansion for the daily commute — it's an expansion where you might go once a week to see your team or something like that," he says. Sramek admits that better train connectivity to the rest of the region will be a separate challenge that is much more out of its control. "I think there should be a high-speed train between San Francisco and Sacramento.... If we were in Europe, you could be there in 45 minutes," he says. California Forever is a "risky real estate project" and, as such, its backers expect high returns, says Sramek. But while the endeavor is much riskier in the beginning given the high level of uncertainty, it's expected to become more akin to a traditional real estate investment over the long term, according to a source familiar with the project. And if this doesn't work? The group could develop the land piecemeal, says Sramek. The bottom line: Some Silicon Valley investors may have entirely written off the Bay Area, but others are doubling down and trying to reshape it via one of their most ambitious bets.

👏 Why it's good news that the "East Solano Plan" (i.e. the Silicon Valley billionaire fantasy city) has been stopped (for now)!! 👏 This is a great opportunity to reassess our priorities in urban development. Instead of pouring billions into creating a new city from scratch, 𝙡𝙚𝙩'𝙨 𝙞𝙣𝙫𝙚𝙨𝙩 𝙞𝙣 𝙤𝙪𝙧 𝙚𝙭𝙞𝙨𝙩𝙞𝙣𝙜 𝙘𝙤𝙢𝙢𝙪𝙣𝙞𝙩𝙞𝙚𝙨!! This group has already spent $1.4 billion alone on acquiring land and filing lawsuits against farmers who didn’t want to sell their land. With $1.4 B we could: *Address the budget shortfalls for Berkeley, Oakland, and SF schools ($207.5M) *Cover premiums for every person on CoveredCA in SF, Countra Costa, Alameda, San Mateo, Santa Clara, and Marin counties ($193M) *Address BART’s projected deficit through 2027 ($375M) *Cover the existing investment in transportation infrastructure upgrades, including climate change resiliency ACROSS THE WHOLE STATE OF CA ($300M) *Double the arts budget for the California Arts Council ($52M) *Support tree planting to protect kids by replacing school pavement with drought-tolerant green space and shade ($117M) *Fix Oaklands current budget shortfall (~$200M) …AND STILL HAVE MONEY LEFT OVER. And this is just with the $1.4B that has already been spent - not even counting the many more billions that would be needed to build an entire city from scratch. These are just a few examples, but they highlight the potential impact of redirecting these funds. Our existing cities are crying out for investment in housing, education, arts and culture, climate resilience, and infrastructure. Let's focus on revitalizing the communities we have rather than building new ones. What do you think? How would you allocate these resources? #UrbanDevelopment #CaliforniaHousing #SustainableCities #CommunityInvestment #resilientcities #resilientcommunities #community SPUR #publicpolicy #publicinvestment #civicimagination #civicfutures Johanna Hoffman Jake Dunagan BART #placemaking #placemakingUS PlacemakingX #creativeplacemaking #placekeeping (all sources in comments)

The New York Times | A company backed by Silicon Valley’s most powerful investors, including the LinkedIn co-founder Reid Hoffman and the venture capitalist Marc Andreessen, assembled a land empire outside San Francisco and announced a bold vision to build a brand-new city — and was immediately castigated by the world’s urbanists. https://lnkd.in/gW-EBhDZ The Bay Area needs a lot more housing, and may need privately built cities to get there. There is nothing new about cities built by investors and corporations. Celebration, Fla., was developed by the Walt Disney Company and includes buildings from architectural giants like Philip Johnson and Robert A.M. Stern. The California version should be that it doesn’t matter if the developer is private or public, as long as it builds the housing that the state needs to become more affordable. Even if these would-be city builders make boatloads of mistakes, getting anywhere close to the goals of Flannery Associates to house 400,000 people — up to 5 percent of the Bay Area’s current population — would significantly help make the region more affordable and inclusive. City building has usually been a collaborative affair that requires openness and thrives on a hive of talent. Without assembling a wide and supportive community, Flannery Associates is on the way to suffering the same fate as Sidewalk Labs, an Alphabet company that failed to build a futuristic city in Toronto. Moreover, a city built by Silicon Valley moguls will succeed only if it puts people before buildings. There are city-building entities, like the Woodlands, that have developed the social muscles to create community, but they don’t emerge overnight… #SDGs #HybridWorkplace #WFH #WFA #WalkableUrbanism #20MinuteNeighbourhoods #TimelessUrbanism

CAROLINA DREAMS....WHY INVESTORS CAN'T GET ENOUGH Alright, listen up folks 'cause I'm about to let you in on a little secret: the Carolinas are where dreams come true for investors. That's right, whether you're lookin' to make a fortune in real estate or strike it rich in the business world, North Carolina and South Carolina are the places to be. First off, let's talk real estate. Both NC and SC are home to some of the hottest housing markets in the country, with prices on the rise and demand through the roof. Whether you're lookin' to buy a beachfront condo in Myrtle Beach or a historic home in downtown Charleston, there's no shortage of opportunities for investors lookin' to cash in on the Carolina dream. But it ain't just about residential real estate—oh no, the commercial market in the Carolinas is also red-hot. With major cities like Charlotte and Raleigh attractin' businesses from all over the country, there's plenty of demand for office space, retail storefronts, and industrial warehouses. And with low taxes, business-friendly regulations, and a skilled workforce, it's no wonder investors are flockin' to the Carolinas like bees to honey. So why should you be investin' in businesses and real estate in the Carolinas? Well, besides the fact that it's a great way to build some wealth, it's also a chance to be part of somethin' special. Whether you're helpin' revitalize a downtown district or fundin' the next big tech startup, investin' in the Carolinas is a chance to be part of a community that's growin', thrivin', and makin' dreams come true. #viveequity #vivepropertymanagement #makinmoves #harvestpropertiesgroup #barbaricyawp#realestateinvesting #passiveinvesting #wealthbuilding #investing

Commercial real estate is an amazing opportunity to build generational wealth, while impacting blighted communities. Knowing how to properly do it, is another ball game. Love to see that The Brookings Institution has published a playbook to help navigate the pitfalls and expedite #success. Andre M. Perry I want to learn more! #investors #CRE #wealth #communitydevelopment

Unveiling the Phenomenon: The Rise of Real Estate Investments in Chicago’s South Side In the dynamic landscape of real estate investments, one area is capturing the attention of astute investors and industry experts alike: Chicago’s South Side. Here's why: 1. Affordability Meets Potential: The South Side boasts a treasure trove of properties at comparatively lower prices than other parts of the city. This affordability, coupled with the area's untapped potential, presents a compelling proposition for investors looking to maximize their returns. 2. Infrastructure and Development: Infrastructure projects and community development initiatives are reshaping the South Side, enhancing its appeal to investors. From revitalized commercial corridors to improved transportation networks, these investments are laying the groundwork for sustainable growth and prosperity. 3. Cultural Richness and Diversity: Beyond its economic prospects, the South Side is a vibrant tapestry of culture, history, and diversity. Its rich heritage and sense of community create a unique atmosphere that resonates with residents and investors alike, fostering a deep sense of belonging and pride. 4. Innovation and Entrepreneurship: The South Side is not just a place of tradition; it's also a hub of innovation and entrepreneurship. With incubators, co-working spaces, and initiatives supporting small businesses, it's nurturing a thriving ecosystem that attracts forward-thinking investors eager to be part of its success story. 5. Forward-Thinking Policies: Forward-thinking policies and strategic investments by local authorities are driving positive change in the South Side. From incentives for redevelopment to initiatives promoting affordable housing, these measures are fostering an environment conducive to long-term investment and sustainable growth. As the allure of the South Side continues to grow, savvy investors are seizing the opportunity to be part of its transformative journey. Whether it's revitalizing historic neighborhoods, supporting local businesses, or contributing to community development projects, investing in Chicago’s South Side isn't just about financial returns—it's about being part of something bigger, something transformative. In conclusion, the rise of real estate investments in Chicago’s South Side is more than just a trend—it's a testament to the area's resilience, potential, and promise. And as the momentum builds, one thing is clear: the South Side is poised to redefine the future of real estate investment in Chicago and beyond. . . . #RealEstate #Investment #Chicago #SouthSide #Opportunity #RealEstate #Investment #Chicago #SouthSide #Opportunity #AffordableLiving #HomeSweetHome #InvestmentOpportunity #FirstHome #RealEstateDeals #CharmingHome #BudgetBuy #HouseForSale #PropertyInvestment #QuietNeighborhood #GreatValue #HouseHunting #DreamHome #RealEstateInvesting #HomeBuying #AffordableHomes #NewListing

Part 1: 5. A New Foundation Set against the backdrop of a bustling metropolis known both for its towering skyscrapers and stark socioeconomic divides, “A New Foundation” tells the story of a group of young, idealistic entrepreneurs led by Jasmine Rivera. Disheartened by the rampant corruption and unethical practices within the real estate industry, they set out to establish a different kind of real estate company—one built on the pillars of transparency, ethical practices, and community empowerment. The Genesis Jasmine, a seasoned architect disillusioned by her experiences with traditional real estate developers, shares her vision of an ethical real estate firm with her friends and colleagues, Leo, a sustainability expert, and Maya, a community organizer. Together, they brainstorm the concept of “Verdant Spaces,” a company that not only develops properties but also fosters community growth and environmental sustainability. Challenges Abound The trio faces skepticism from potential investors and obstacles from established industry players who view their ethical approach as naive and unprofitable. Additionally, navigating bureaucratic hurdles and acquiring initial funding without compromising their values proves to be a daunting task. First Projects and Community Involvement Verdant Spaces’ first project, a dilapidated block in a neglected neighborhood, becomes a testament to their mission. The team envisions transforming it into affordable housing units with communal gardens and spaces for local businesses. They involve the community in every step of the process, from design to construction, ensuring that the project meets the real needs of the residents. Overcoming Skepticism As Verdant Spaces starts to take shape, Jasmine and her team organize community workshops and open houses to showcase their vision and build trust within the community. They face pushback from real estate moguls and political challenges but remain steadfast, slowly winning over skeptics with their transparency and genuine commitment to positive impact.

The analysis showed a 7.4% national increase in new business applications between December 2022 and December 2023, signaling strong economic optimism. This surge is especially pronounced in Colorado, which experienced a staggering 115% year-over-year growth in new business applications, outpacing other states significantly. What's driving this extraordinary growth? Colorado's story intertwines recent population increases with burgeoning business opportunities. More people bring more ideas, energy, and demand, creating a vibrant ecosystem for new ventures. Colorado's strategic decision to reduce the cost of filing for a new business from $50 to just $1, as part of a broader billion-dollar initiative to stimulate business creation, is a testament to its commitment to being an entrepreneurial haven. For real estate professionals and investors, this trend is a golden opportunity. The influx of new businesses means more demand for commercial spaces, housing, and development projects. As we embrace 2024, let's not just watch this exciting growth – let's be a part of it. Whether you're looking to invest in real estate or start a new business venture, Colorado is where your ambitions can soar. #RodRants

Small businesses must be part of any revitalization solution in San Francisco. In a recent San Francisco Business Times article, we share some insights how entreprenership and ground floor businesses are the keys to growing the City. https://lnkd.in/gRDG3-Y8

🌟 A Visionary Call for Partnership in Williamson County 🌟 #HauntedTexas | #CommunityDevelopment | #InnovationMeetsHeritage As we embrace the technological renaissance in Williamson County, fueled by giants like Samsung, we at Haunted Texas are forging a path that honors our past and welcomes our future. 🔍 We’re Seeking a Land Partner We’re on the lookout for more than just land; we’re seeking a partnership steeped in shared values and a vision for legacy. A partner who sees beyond the acreage to the potential of what we can build together – a landmark that intertwines African-American history, cultural prosperity, and the well-being of our community. We were hoping for at least 100 acres with 65 of that being the park and the rest being residential and commercial developments around the park. 🚀 Our Mission Haunted Texas is not just an amusement park. It’s a catalyst for minority-owned businesses, aiming to scale 100 entrepreneurs to unprecedented heights in Williamson County, near Taylor. It’s about creating a vibrant hub where retail and culture aren’t just present; they thrive. 💡 Why Now? Why Taylor? The answer is simple: opportunity. With the economic boom led by tech advancements, our chosen location near Taylor is ripe for a transformation that aligns with the CHIPS for America program’s vision and the rich tapestry of our community’s heritage. ✨ Join Us This is more than a call for investment; it’s an invitation to become part of a story that will be told for generations. We stand ready to create an experience that educates, entertains, and enriches. Not only will we make sure you are paid for your land, but we would like to bless your family for generations to come and our hope is that one day we will be just as great, as if not greater than Disney. If you share our passion for creating a space that celebrates our collective history and fuels economic inclusivity, we want to hear from you. Let’s build this future together. 🤝 #PartnershipOpportunity | #EconomicGrowth | #CulturalPreservation