Silicon Valley Investors Aim to Build New City in Bay Area, Raising Concerns

Company called Flannery Associates has spent $800 million buying land in Bay Area.
Flannery aims to build new city with thousands of jobs and walkable design.
Flannery investors include Silicon Valley figures like Michael Moritz, Reid Hoffman, Marc Andreessen, and Laurene Powell Jobs.
Land purchases have sparked speculation and concerns among locals and officials about Flannery's intentions.
Flannery may need voters' support to rezone land for residential use.