Developers Buy Land for 'Futuristic Mini-City' in Las Vegas

"Months after announcing plans for a futuristic mini-city in Las Vegas, the developer has reached a deal to buy a project site for more than $300 million," reports Eli Segall.

The deal still needs to close, according to Segall, and there's no guarantee it will. "But the announcement is a key step for a tech-heavy, $7.5 billion project that had been shrouded in mystery in some keys ways since its unveiling — and whose developer, the Review-Journal confirmed, is Janet Garcia-Legrand of Miami, who was arrested in 2017 in connection with an alleged scheme to defraud a south Florida city."

Contributing to that mystery is the developers' reliance on "an arsenal of buzzwords" to describe the project, "saying the project will feature net-zero buildings, artificial intelligence, augmented reality, supertrees and self-healing concrete structures."

More details on the real estate deal and the potential final form of the development are included in the article.