Elon Musk is planning a Texas utopia—His own town

AUSTIN, Texas—Elon Musk is planning to build his own town on part of thousands of acres of newly purchased pasture and farmland outside the Texas capital, according to deeds and other land records and people familiar with the project.

In meetings with landowners and real-estate agents, Mr. Musk and employees of his companies have described his vision as a sort of Texas utopia along the Colorado River, where his employees could live and work.