Media: Musk plans to build his own city in Texas

Elon Musk is planning to build his own town on part of thousands of acres of newly purchased pasture and farmland outside the Texas capital, according to deeds and other land records and people familiar with the project, Report informs referring to The Wall Street Journal.

In meetings with landowners and real-estate agents, Musk and employees of his companies have described his vision as a sort of Texas utopia along the Colorado River, where his employees could live and work.

Executives at the Boring Co., Musk’s tunnel operation, have discussed and researched incorporating the town in Bastrop County, about 35 miles from Austin, which would allow Musk to set some regulations in his own municipality and expedite his plans, according to people familiar with Musk’s projects.

They say Musk and his top executives want his Austin-area employees, including workers at Boring, electric-car maker Tesla Inc. and space and exploration company SpaceX, to be able to live in new homes with below-market rents.

Under Texas law, a town needs at least 201 residents before it can apply to incorporate, then approval from a county judge. Bastrop County hasn’t received an application from Mr. Musk or any of his entities, a spokeswoman said.