They say everything is bigger in Texas, so it’s no wonder that Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk has plans to build his own town in Bastrop County.
According to deeds and land records, Musk is building a town southeast of Austin — to be known as Snailbrook — next to his The Boring Company and SpaceX facilities.
What’s The purpose?
When Musk does something, he does it big. Tesla, The Boring Company and SpaceX all fit this mold.
This time around, Musk is dipping his toes into real estate development. The plan for Snailbrook is to serve as a community for employees of The Boring Company and SpaceX. While there are still many details to work out, some people are already living in modular homes on Musk-owned property.
Musk and his team have met with employees, real estate agents and local landowners to better understand the area and the best path forward. His goal is to build a “Texas utopia along the Colorado River” where employees can live, work and play.
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But There’s More
The name Snailbrook comes from The Boring Company’s goal to build a machine that bores through the ground “faster than a snail.” It may not be the most creative or even the most attractive name, but it fits Musk through and through.
As with any planned community of this size — especially with a billionaire involved — you can expect plenty of legal roadblocks through — and even after — completion. But Snailbrook is making fast progress.
Bastrop County has already approved three street names: Boring Boulevard, Cutterhead Crossing and Waterjet Way.
The Wall Street Journal reports that Musk, along with his companies, has purchased a minimum of 3,500 acres of land in and around the Austin area over the past three years.
But locals have concerns about the environmental impact of The Boring Company's work in the area. Some residents recently filed a complaint with the Texas Commission on Environmental Quality (TCEQ) about the company’s request for a permit to dispose of treated wastewater into the Colorado River. A public hearing is tentatively scheduled for March 21 to address the complaint.
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Snailbrook To Give Musk More Control
It’s an understatement to say that Musk tends to clash with state and federal authorities and regulators. By incorporating a town of his own, Musk will have more say over how it’s managed, empowering him to potentially skirt regulations that don’t align with his vision.
Musk hopes Snailbrook can provide employees with the opportunity to “live in new homes with below-market rents.” And when combined with planned features such as an outdoor sports arena, gym and swimming pool, employees will likely jump at the chance to make the community their home.
Bastrop County Commissioners Court documents filed in January show an initial plan to construct 110 homes in Snailbrook. This aligns with the Texas law stating that a town must have a minimum of 201 residents to receive approval for incorporation.
With Musk pushing the project forward, Snailbrook is set to become a reality sooner rather than later.
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