Jet.com Founder Marc Lore Wants to Build Sustainable City of 5 Million

Billionaire jet.com founder Marc Lore has unveiled plans for Telosa, a sustainable metropolis that would be built from scratch. Designed by world-renowned Danish architect Bjarke Ingels, the project could ultimately span 150,000 acres and be home to five million people. 

The project’s vision is comprehensive, although there are questions of where to build it and how to fund it. The cost is estimated to be in the hundreds of billions. As for location, the Telosa website says Nevada, Utah, Idaho, Arizona, Texas and the Appalachian region all are possibilities. 

CNN reports that the Telosa proposal promises eco-friendly architecture, sustainable energy production and a purportedly drought-resistant water system. The first phase of construction, which would accommodate 50,000 residents across 1,500 acres, comes with an estimated cost of $25 billion. The whole project would be expected to exceed $400 billion, with the city reaching its target population of five million within 40 years. 

Funding will come from “various sources,” project organizers said, including private investors, philanthropists, federal and state grants, and economic development subsidies. Planners hope to approach state officials “very soon,” with a goal of welcoming the first residents by 2030, CNN reported. 

Underpinning the Telosa proposal is a model for governance that Lore calls “Equitism.” In this model, a community endowment will own and manage the donated land, “which will generate income from ground leases and appreciation to support enhanced city services in the form of education, housing, health, and jobs/retraining.” 

The endowment model isn’t new, as the website points out. “There are many successful examples of the endowment model and the concept of land value return being reinvested back into the community to fund essential public services. Some of these examples including Alaska, Utah, nearly 20 cities throughout Pennsylvania, and leading universities, such as Stanford, are using land and other finite natural resources to provide essential support in education and other key areas that strengthen communities. While we plan to focus on a much larger scale and a broader social mission, their success gives us confidence with this strategy and approach.” 

Telosa’s “transparent participatory democracy” will be led by a council and city manager model “with strong community engagement and involvement,” according to the project’s website. “The City Charter will be mission- and vision-oriented to put people first.” 

The city itself would be “designed from a clean slate with a better architectural and mobility master plan to improve the quality of life of all residents,” the website states. “This includes greater environmental sustainability, higher safety, less noise and pollution, more economic efficiency and a new 15-minute city design that changes the perception of geography, sense of time, cost, and experience.” 

Lore sold jet.com to Walmart and joined the company as director of e-commerce in 2016. He retired from Walmart earlier this year, saying that he would focus on creating a reality TV show, advising startups and building a city of the future. 

“We have a chance to prove a new model for society that offers people a higher quality of life and greater opportunity,” Lore is quoted on the Telosa website. “When I look out 30 years from now, I imagine Equitism serving as a blueprint for other cities — and even the world — and Telosa being a place of pride for all who live there.”

Rendering courtesy of Bjarke Ingels Group.