The city will be positioned 4,900 miles from Australia, sitting off the coast of Tahiti.
Work is set to commence on the city that will comprise of 11, five-sided platforms that will accommodate up to 300 people.
Construction will take place with local wood, bamboo and coconut fibre - recycled metal and plastic will also be used.
The Seastanding Institute was founded by PayPal’s Peter Thiel – the floating nation was recently given the go – ahead by French Polynesia, the area controlled by France that compromises of over 100 islands in the South Pacific.
The city is expected to cost an estimated £45.7million ($60million) that will be paid for through crowdfunding and institute funds.
Offices, restaurants and hotels will be built in addition to homes for those who want to make the floating island their permanent place of residence.
Mr Quirk’s ambitions are not limited to a single floating city, with the Seasteading Institute head envisioning a future of thousands of similar examples.
He stated: “I want to see floating cities by 2050, thousands of them hopefully, each of them offering different ways of governance.
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