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In a rural slice of California’s Solano County, between the cities of the Bay Area and Sacramento, rumors have been swirling for years about “the Flanneries,” a mystery company buying up mostly undeveloped land. “There’s sheep farms, there’s cattle ranches, and guys that are doing hay and safflower farming,” said the employee, Ashley Morrill, 40. “That’s what they do. There’s livestock, and things to feed the livestock.”Solano County’s rural roots are still front and center in an area where a company backed by tech industry billionaires has been buying up land to create what they imagine to be a city of the future. That company, Flannery Associates, has committed roughly $900 million to secure thousands of acres of farmland, court documents show.
Persons: , Ashley Morrill, , ” Solano, Flannery Organizations: Bay, Flannery Associates Locations: California’s Solano County, Bay Area, Sacramento,
A company called Flannery Associates has been purchasing land in a county near San Francisco. The company, Flannery Associates, has spent $800 million to purchase thousands of acres of farmland in Solano County, which sits northeast of San Francisco, court documents obtained by Insider show. But the spending price has since soared, with Flannery spending up to $15,000 per acre, lawyers for Flannery Associates said in court documents. Attorneys for Flannery Associates and the landowners did not respond to a request for comment outside of working hours. AdvertisementAdvertisementMusk recently purchased 3,500 acres of land outside of Austin, Texas, to build a town he intends to call "Snailbrook."
Persons: Flannery, Marc Andreessen, Laurene Powell Jobs, Catherine Moy, Jan Sramek, Goldman Sachs, Powell Jobs, Michael Moritz of, Reid Hoffman, Moritz, Y, We're, Bill Gates, Elon Musk Organizations: Service, Silicon, The New York Times, Flannery Associates, Street Journal, Travis Air Force Base, Air Force Base Google, ABC, Times, Michael Moritz of Sequoia Capital, LinkedIn, Solano County Google, The Times, Tech Locations: San Francisco, Wall, Silicon, California, Solano County, Fairfield, Real, Austin , Texas, Colorado
The report — published on Wednesday — is based on data from nearly 600 counties in the US. Nine counties around New York City were included in the top 50 most vulnerable. ATTOM spokesperson says a recession seems 'more likely' than getting inflation under control. On Wednesday, real estate data company, ATTOM Data Solutions, published its Special Housing Risk Report for the second quarter of 2022. The report listed nearly 600 US counties vulnerable to value decline, based on "home affordability, underwater mortgages, foreclosures and unemployment," the report says.
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