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RE: LeoThread 2024-08-24 02:36

in LeoFinance4 months ago

Marc Andreessen’s family plans to build a ‘visionary’ subdivision near the proposed California Forever utopia city

Marc Andreessen's family is planning to build a large housing development near the proposed California Forever city.

The family of powerhouse venture capitalist Marc Andreessen, one of the investors behind the hoped-for California Forever utopian city in Solano County, California, is planning a substantial community development in the area, TechCrunch has learned.

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Andreessen is married to Laura Arrillaga-Andreessen, whose Silicon Valley real estate mogul father bought land in Solano County decades before his death in 2022, according to county records obtained by TechCrunch. An LLC operated by Arrillaga-Andreessen’s brother that’s known as A&P Children Investments, has begun the planning process for a mixed-use development with more than 1,000 homes.

This area is on the edge of the city of Vacaville, 10 miles away from the proposed California Forever development, according to property records, planning documents, and business registry information viewed by TechCrunch. A representative for A&P said at a community meeting in March that A&P plans to ultimately sell the property for the benefit of Arrillaga-Andreessen and her brother, John Arrillaga Jr.

Two other parcels of land owned by the LLC that are not part of the proposed Vacaville development are even closer to California Forever. This land — roughly 600 acres — is across the highway and down several miles from where California Forever hopes to build its solar farm.

All told, the Arrillaga family co-owns at least these three parcels totaling around 730 acres in the area. These were originally bought by their billionaire real estate developer father, John Arrillaga Sr., and his business partner, Richard Peery, in 1985, records show. The sale of any of the properties would likely also benefit Peery’s children, as he is listed as a co-director of A&P in state paperwork. A spokesperson for Peery Arrillaga, the real estate company founded by the two men, declined to comment.