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Sat July 14, 2012
Pegasus Pulls Out Of Hobbs; Could Las Cruces Be Back In The Running?
The company behind plans to build a scientific ghost town says it's pulling out of a deal to develop the make-believe city near Hobbs. Pegasus Global Holdings says complications with the land deal forced them to pull out.
The group in May announced selection of a 15-square mile site in Lea County for development of the Center for Innovation, Technology and Testing. Officials then said they hoped to break ground by June.
Last month, the project's managing director said groundbreaking would likely be delayed.
The group said it would begin reviewing proposals from 15 other New Mexico communities that had expressed an interest in the project.
The $1 billion city without residents is being developed to help researchers test everything from intelligent traffic systems and next-generation wireless networks to automated washing machines and self-flushing toilets.
Copyright 2012 The Associated Press.