The point of the town is to enable researchers to test new technologies on existing infrastructure without interfering in everyday life. For instance, while some researchers will be testing smart technologies on old grids, others might be using the streets to test self-driving cars. "The only thing we won't be doing is destructive testing, blowing things up — I hope," said Brumley (senior managing director of Pegasus Holdings).
Also from the that article:
Brumley said plans are to break ground on the town by June 30. The initial development cost is estimated at $US400 million, although Brumley estimates the overall investment in the project to top $US1 billion.