A mystery company backed by Silicon Valley billionaires has purchased tens of thousands of acres of land for more than $800 million to build a new city near San Francisco

Solano CountyIn 2017, Flannery Associates pitched an idea to turn the Solano County land into a walkable city powered by clean energy and housing tens of thousands of residents, The Times reported.In an email obtained by the Times, Moritz said that Flannery had purchased about 1,400 acres of land for less than $5,000 per acre.But the spending price has since soared, with Flannery spending up to $15,000 per acre, lawyers for Flannery Associates said in court documents.

In a motion to dismiss the lawsuit that was filed in July, the landowners said that they have "either engaged in good-faith, arms-length transactions for the sale of land, or were not tempted by Flannery's prices, because they had no desire to sell."

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