Latest news with #industrialpark
Gizmodo
22-07-2025
- Business
- Gizmodo
Tech Billionaires Wanted to Build a New California City. They're Settling for an Industrial Park, Instead
In 2023, the California Forever group, a company backed by a gaggle of Bay Area billionaires, announced that it wanted to use some 60,000 acres of Solano County farmland north of San Francisco to develop a brand new city. The effort was pretty much an unmitigated disaster from start to finish, and the group eventually rescinded its plans. Now, however, the same group says that it has a new project that may be significantly easier to accomplish. In a blog post made to its website last week, the California Forever group unveiled a new proposal for what it calls 'the Solano Foundry'—a planned industrial park, centered around a large manufacturing plant, that the group describes as a 'new home for frontier tech, an hour north of Silicon Valley.' The 'Foundry' would be quite large, residing on 2,100 acres and covering some 40 million square feet, the group says. The industrial hub could act as a hub for 'advanced transportation, robotics, energy, and defense,' the site says. You can see the plans for the project here. 'Silicon Valley earned its name because chips were once made here alongside code,' said Jan Sramek, Founder & CEO of California Forever. 'The Solano Foundry restores that formula. By bringing R&D and manufacturing back together, we'll outpace global competitors, streamline supply chains, and ignite a new era where products are both designed and made in California.' The Foundry seems to gel well with President Donald Trump's espoused desire to see manufacturing return stateside, which tracks since many prominent Silicon Valley billionaires (including folks like Marc Andreessen, a backer of the California Forever project) have voiced their support for Trump and his industrial agenda. At the same time, Silicon Valley's renewed alliance with the defense industry means that our tech overlords are increasingly looking for ways to produce weapons and other defense technologies. Relevantly, the proposal for the Foundry specifically mentions defense, noting that it will serve as a location for 'defense start‑ups' and will help America's 'innovators' to 'iterate at a pace that outperforms our adversaries.' The Foundry's settlement would also sit adjacent to a local Air Force base, which the group says would offer 'significant opportunities for collaboration with our military.' The Foundry also represents a significant reduction of the group's original ambitions, which were considerably more quixotic. To be sure, the proposal still represents a huge undertaking, although not nearly as huge as the new metropolis that California Forever's backers originally envisioned. The effort to create a new city ran into obstacles at every turn. A lawsuit between the group and local farmers who did not want to sell their land to the development spurred regional animosity and contributed to the perception that the project was run by rich bullies who wouldn't take 'no' for an answer. Not long afterward, a series of informational town halls designed to sell county residents on the plan devolved into chaos, as locals protested the proposal. Finally, a proposed ballot initiative that would have given the project a legal pathway towards development floundered and had to be pulled due to a lack of public support. It's probably just as well. Sober fiscal analysis of the proposed plan made it sound certifiably insane. Indeed, an impact report produced by the Solano County's Board of Supervisors in 2024 claimed that the project would put a huge financial burden on local taxpayers, saddling them with $6.4 billion during the project's initial phase of development and, eventually, would force them to pay out as much as $50 billion before the city was completed. The project would also inevitably lead to a surge in local traffic, and might not even be 'financially feasible' in the long run, the report projected. It's unclear whether the group's new project is any more feasible than its last one.
RNZ News
16-07-2025
- Business
- RNZ News
Rural community in Western Bay of Plenty ‘in shock' as industrial park greenlit
Priority Te Puna spokesperson Alison Cowley (inset) is against the industrial park on Te Puna Station Rd. Photo: LDR / John Borren ./ Alisha Evans A rural Western Bay of Plenty community is "in shock" as a controversial local industrial park is greenlit. Photo: Te Puna residents have been rallying against the development since 2021, as they say the culturally significant, flood-prone wetland is inappropriate for the business. Resource consents were granted for the industrial park by an independent commission whose decision was released last week. Te Puna Industrial Limited bought 12ha of industrial-zoned land at 297 Te Puna Station Rd for $4.7 million in 2021 and applied for consents from the Western Bay of Plenty District and Bay of Plenty Regional councils in 2022. The company is half-owned by shipping container company ContainerCo. ContainerCo managing director Ken Harris said they planned to build "very low-intensity, specialised businesses" at Te Puna Business Park. ContainerCo managing director Ken Harris. Photo: LDR / Supplied Plans included refrigeration engineering, workshop activities including container washing, and the company's sales office. The business park website said ContainerCo would hold a "small supply" of up to 300 containers at the site. Priority Te Puna spokesperson Alison Cowley said the community was "in shock and very depressed" about the decision. "People took the assumption that it was so ridiculous that it was never going to happen." There were safety concerns because of the increase in trucks and heavy vehicles on Te Puna Rd from the park, Cowley said. "We feel that the impact on Te Puna Village and the Te Puna Rd corridor has not been in any way considered." Alison Cowley is worried about having a higher number of trucks and heavy vehicles in the area. Photo: LDR / Alisha Evans Cowley said the consent conditions were "extremely stringent" so it was up to the council to ensure they were complied with. Concerned locals formed the incorporated society, Priority Te Puna in 2022. They intend holding a public meeting about the consent approval on 23 July at 7pm at the Te Puna Memorial Hall. Harris said there had been a "huge amount of misinformation" spread about the development, which was "disappointing". There were signs dotted around the settlement saying, "Container Terminal, Te Puna Says No" and "Wrong Business, Wrong Place, No Container Terminal". Signs are dotted around Te Puna opposing the industrial park on Te Puna Station Road. Photo: LDR / John Borren There was no intention to build a container terminal or a container park of any scale, he said. "This is a facility that will fit into the community and be good for the region." The consent process was "very thorough and rigorous", Harris said. The traffic plans were "carefully considered" by experts and if people were concerned, they could call the company, he said. "If traffic causes a problem people should talk to us and we will listen carefully and adjust plans as required." Once fully developed, the site would generate 774 vehicle movements per day, with a peak of 125 vehicles an hour, according to the commission's decision report. It also said Western Bay of Plenty District Council had committed to upgrading the Te Puna Station Rd/Te Puna Rd intersection, with works set to start in October and finish late January. Harris said they would also be establishing community and mana whenua liaison groups. The land is culturally significant to Pirirakau hapū, who occupied the Pukewhanake Pā at the headland of the Te Hakao valley, and the wetland was once an important food source for them. The consents went through a lengthy process, including public submissions in 2023. Of the 273 submissions 271 were opposed, one was neutral, and one did not clearly state a position. At hearings in July 2024, 17 submitters addressed the independent commission of Fraser Campbell, James Whetu, and chair Rob van Voorthuysen. Harris said work would begin at the site in October with landscaping and supporting infrastructure as well as wetland restoration. A 5.24ha area will be developed first and 2.21ha in the future. -LDR is local body journalism co-funded by RNZ and NZ On Air.
CTV News
08-07-2025
- Business
- CTV News
Final vote passes for Lorneville industrial park expansion
A little over a year after residents first learned about a potential expansion of an industrial park in their own backyards, city council has given the final approval for the project to move ahead. During it's third and final reading at Monday night's Saint John City Council meeting, council once again voted unanimously in favour of the expansion of its Spruce Lake Industrial Park located on the city's west side. Council also voted 9-0 in favour of the project two weeks prior during the first two readings. Despite passing council approval, the project won't be moving forward until the pending results of an environmental impact assessment are completed. There is no timeline for the EIA's completion which is being conducted by the province's environment department. If the project passes the EIA, the city plans to expand it's existing industrial park by 1,500 acres. Saint John Industrial Parks General Manager Ian MacKinnon has previously called the project a 'once-in-a-generation growth opportunity.' Lorneville residents disappointed Residents of Lorneville have been against the project since the start citing fears over impacts to the environment and the idea of industry being located within a few hundred metres of their own backyards. Residents have also recently discovered the forest which sits on the land where the industrial park would reside is home to the province's third-oldest age forest in the province based on the areas 20 oldest trees. One red spruce tree is the fourth oldest tree documented in the province at over 400 years old. 'The past 12 months have shown New Brunswickers that the City of Saint John never really had any intention of actually working with the Lorneville community, they never had any actual intention of meaningfully engaging with the community, and there was no limit to how low they would stoop to get this proposal approved,' says Lorneville resident Adam Wilkins, who is one of the funders of the Save Lorneville movement. 'This long-drawn-out process was nothing more than a tactic, as the city and province bumbled along, making up the rules as they went, for a decision that had already been made years ago. All of this culminated in a completely staged sham of a public hearing unanimous vote on June 16, 2025, where, after over 75 people spoke against the proposal, only 3 people spoke in favour, leaving over 70 questions and concerns unanswered.' Lorneville residents have stated they will continue to fight for their homes and livelihood as they await the results of the EIA. For more New Brunswick news, visit our dedicated provincial page.
CTV News
07-07-2025
- Politics
- CTV News
Saint John council set for final vote on Spruce Lake Industrial Park future
After passing the first and second readings of a proposed industrial park expansion on the city's western outskirts, Saint John City Council will have its third and final vote on the plan Monday night. In mid-June, councillors unanimously passed the first two readings that would see 1,500 acres of land in the community of Lorneville rezoned for heavy industry. The proposed expansion has been a highly debated topic since Lorneville residents were first given a letter about the plans in July 2024. The idea has been met with heavy resistance from much of the community. 'It's been, first and foremost, on our minds for over a year,' says Lorneville resident Chris Watson. 'The industrial park was basically thrust upon us out of the blue.' City staff held several meetings with the community, but Lorneville residents who attended those meetings have previously said they did not feel heard and the meetings felt more like a formality. Major concerns include the idea of heavy industry located in close proximity to people's properties, and the destruction of provincially significant wetlands. Watson also recently discovered a red spruce tree in an area of the forest under threat that is believed to be more than 400 years old, making it one of the oldest trees in all of New Brunswick. Acadian Forest Dendrochronology Lab lead at Mount Allison University Ben Phillips said the forest is the third-oldest age forest in the province based on the 20 oldest trees in the area. 'We're resoundingly against this,' Watson says. 'We will continue to fight and stand up for our community, and we're not we're not backing down.' The community still has many questions they say council has not yet answered regarding the proposed park expansion. The 71 total questions include what the business plan is, what will happen to the area's clean drinking water, and what is the plan for compensating any wetlands destroyed by the project. In late June, the Caribou Club – a land-based treaty education and recreation facility located about a half hour outside Fredericton – walked through the old growth forest. An invitation for the walk was extended to the mayor and members of city council but a letter directed to members of council states no one attended. The letter goes on to say the land is already developed with an old growth forest, and urged council to rethink the expansion idea on the property. 'You have considered the economic value but not the cultural or spiritual value of this forest,' the letter reads. 'Decisions about land use cannot be made in isolation; they must be based in a shared understand of the historical and contemporary significance of the land to all of us.' Watson says the land up for expansion is Crown land, and indigenous partners should be consulted as much as anyone. When asked about her decision to not attend the walk led by the indigenous group, Mayor Donna Reardon told CTV News Atlantic she had toured the forest ahead of the public hearings beginning in May. When asked for comment ahead of the final vote, the mayor said the 'appropriate approach would be to all the EIA (Environmental Impact Assessment) to be completed and formulate any required plans once there is a definitive report available.' Lorneville residents are hopeful the EIA will back their argument and save the old growth forest. Watson says residents have asked to speak with both the province's Environment Department and Natural Resources Minister John Herron on the file but have not heard back. There is no clear timeline for when the EIA will be completed. Lorneville A wetland in Lorneville, N.B., is pictured. (Source: Avery MacRae/CTV News Atlantic) For more New Brunswick news, visit our dedicated provincial page.
Zawya
01-07-2025
- Business
- Zawya
Aldar acquires integrated logistics assets in Almarkaz from Waha Capital for AED 530mln
The assets are part of ALMARKAZ Industrial Park, a premium development by Waha Land, with Special Economic Zone status The transaction builds on the success of Aldar's growing UAE logistics platform, increasing net leasable area to more than 600,000 sqm – including operational assets and projects under development It also supports Aldar's broader strategy to expand and diversify its income-generating portfolio, capitalising on accelerating demand for logistics infrastructure Abu Dhabi, UAE – Aldar has acquired high-quality warehousing and light industrial real estate assets in the Al Dhafra region of Abu Dhabi from Waha for AED 530 million. The assets, which are located at ALMARKAZ Industrial Park - a flagship Industrial and Business Park Development - add 182,500 sqm of net leasable area (NLA) to Aldar Investment's income-generating logistics portfolio. The freehold assets are located at the 6 million sqm ALMARKAZ Industrial Park, which was developed by Waha Land – a wholly-owned subsidiary of Waha Capital – and enjoys special economic zone status. With further development potential at AL MARKAZ, the transaction provides an opportunity for Aldar and Waha to explore future collaboration at the site. AL MARKAZ benefits from high quality infrastructure and the growing demand for logistics space driven by increasing intra-regional trade, e-commerce and population growth. The flexible design of the buildings acquired by Aldar allow for tenants to select from a range of unit sizes and building heights, offering excellent modularity. The assets, which are at near full occupancy with a diverse base of international, regional and government related tenants, add to Aldar's growing portfolio of logistics assets including Abu Dhabi Business Hub and 7 Central in Dubai Investments Park, as well as upcoming assets at National Industries Park in Jebel Ali and sites in Dubai South. Jassem Salah Busaibe, Chief Executive Officer of Aldar Investment, commented:"The acquisition of assets at ALMARKAZ from Waha is another step in Aldar's ongoing expansion within the UAE's logistics sector, aligning with our strategy to scale and diversify our recurring income streams. Our logistics platform continues to grow across Abu Dhabi and Dubai – capitalising on demand for well-located premium logistics and industrial space – and the assets at ALMARKAZ provide well-established and high-quality warehousing with strong fundamentals and growth potential.' The transaction marks a strategic milestone for Waha, reflecting over a decade of investment into ALMARKAZ and the successful transformation of a greenfield site granted by the Abu Dhabi Government into a thriving logistics and industrial hub. Mohamed Hussain Al Nowais, Managing Director of Waha Capital, said: 'Waha Capital is proud to have supported Waha Land's transformation of ALMARKAZ into a key pillar of Abu Dhabi's logistics and industrial landscape. Over more than a decade, our backing has enabled the creation of a high-quality, income-generating platform that directly contributes to the diversification of the Emirate's economy. This transaction is a testament to the strength and scalability of the platform we have built, and to our commitment to long-term value creation across our portfolio. We are pleased to collaborate with Aldar on this milestone as we continue to unlock value and deliver strong returns for our shareholders.' The logistics segment of Aldar's investment properties portfolio represents a priority area for expansion. Aldar's portfolio includes Abu Dhabi Business Hub and 7 Central logistics hub in Dubai – both of which were acquired in 2024. Aldar is also developing multiple logistics facilities in Dubai South has entered a partnership with DP World to develop a 146,000 sqm logistics park at National Industries Park (NIP) in Jebel Ali. For further information, please contact: Media Obaid Al Yammahi Aldar Properties Sarah Abdelbary Brunswick aldar@ About Aldar Aldar is the leading real estate developer, manager, and investor in Abu Dhabi, with a growing presence across the United Arab Emirates, the Middle East North Africa, and Europe. The company has two core business segments, Aldar Development and Aldar Investment. Aldar Development is a master developer of a 62 million sqm strategic landbank, creating integrated and thriving communities across Abu Dhabi, Dubai, and Ras Al Khaimah's most desirable destinations. The delivery of Aldar's developments is managed by Aldar Projects, which is also a key partner of the Abu Dhabi government in delivering housing and infrastructure projects across the UAE's capital. Internationally, Aldar Development wholly owns UK real estate developer London Square, as well as a majority stake in leading Egyptian real estate development company, SODIC. Aldar Investment houses a core asset management business comprising a portfolio of more than AED 46 billion worth of investment grade and income-generating real estate assets diversified across retail, residential, commercial, logistics, and hospitality segments. It manages four core platforms: Aldar Investment Properties, Aldar Hospitality, Aldar Education, and Aldar Estates. For more information on Aldar please visit or follow us on: About Waha Capital Waha Capital is an Abu Dhabi-listed investment management company that leverages its emerging markets expertise, business networks and research capabilities to deliver attractive returns to shareholders and investors in its funds. Founded in 1997, Waha Capital is one of the Emirate's leading private sector investment houses, providing a world-class platform for investment and growth. The company has a long-established track record of investing in public and private markets, deploying proprietary capital in alignment with third-party investors. The Public Markets business (operated by Waha Investment PrJSC, a wholly owned subsidiary) offers sophisticated investors actively managed emerging markets credit and equities funds, via a disciplined approach to investment and implementing distinctive strategies to deliver consistent market-leading returns. The Private Investments business pursues a multi-asset investment approach focused on direct investments, with the flexibility to deploy capital across diverse sectors and geographies. The business leverages extensive international business networks to source deals and form co-investment partnerships. The Waha Land business develops and leases industrial and logistics facilities at ALMARKAZ in Abu Dhabi's Al Dhafra region, strategically leveraging the UAE's expanding industrial infrastructure, to grow its institutional-grade assets and contribute to portfolio diversification and long-term value creation. Counting Mubadala Investment Company as an anchor shareholder, Waha Capital is at the forefront of Abu Dhabi's increasingly dynamic and entrepreneurial ecosystem, creating long-term value for shareholders, fund investors, employees, and communities. About ALMARKAZ Industrial Park Located in Al Dhafra, 35 kms west of the city of Abu Dhabi, ALMARKAZ has been developed by Waha Land as an integrated mixed-use industrial development with Grade 'A' industrial and logistics facilities and first-class infrastructure. The development is perfectly situated to capitalise on easy access to the UAE's growing industrial and logistics infrastructure, including major land, sea, air and rail routes. For media enquiries, please contact: Ameera Khalid Head of Investor Relations & External Communications Waha Capital E-mail: communications@
