Given the location, I expect most potential residents would prefer to live in a community more like Mountain House, CA (with relatively larger private living space with a few schools and a single strip mall shopping center) than to live in a community with homes built like Noe Valley in SF but without all the benefits of urban amenities that come with living in SF because those benefits are endogenous to the urban economics of a place like SF.
edit to everyone talking about how the backers have the influence to attract tech jobs to their new city. Great, but even if that's the case ... a community like this can't be maintained by people who work in tech alone. It's going to require service workers who will need to live somewhere and while it's nice that the houses in this new city will cost less ($400k to $600k), the more affordable housing stock for service workers will mostly be found in the nearby (yet still to far for public transit so they will need cars) communities of vallejo, fairfield, antioch, stockton, etc. I have yet to read anything about how they plan to fund any subsidized housing in the community (this article only mentions subsidizing businesses). As a Georgist, I know they _could_ do it by establishing something like a community facilities district with much higher taxes on land, but as this project is fundamentally a speculative land investment for its backers I doubt they'd be interested in that.