Facebook to Build $120 Million Housing Complex for Workers
Facebook employees will no longer be able to complain about their commute to work, with the social media giant building a large new housing complex about a mile from its headquarters in Menlo Park, California.
The $120 million, 394-unit housing development will come complete with a convenience store, pub, pool and, perhaps most importantly, a doggy daycare. The project, which is going up on an industrial site in Menlo Park, is being spearheaded by developer St. Anton Partners, who said the complex will bring added units to the saturated and expensive Silicon Valley real estate market.
“Right now, there’s absolutely no supply,” St. Anton co-founder Pete Geremia told the Silicon Valley Business Journal. “You might be able to find a garage to rent. By bringing these units online, from economical studios to three-bedrooms, we’re creating that needed supply and can help relieve some of the pressure.”
St. Anton is planning to reserve 10 to 12 percent of the units for lower-income residents. (See St. Anton’s full rendering below.) The rest is geared toward Menlo Park’s biggest company.
The complex would be able to accommodate only about 10 percent of Facebook’s staff, but for those who opt in, one major perk would be the easy, 1.5-mile commute to the office.
Of course, the proximity might also might mean a blurring of lines between home and work for a company known for the creature comforts of its headquarters (restaurants, gym, bike repair shop) and long work hours.
Doggy daycare? √ Drs office? √ Sports pub? √ Yoga studio? √ Facebook redefines what it means to bring your work home: https://t.co/dQHTJ7KXaX
— Annie Vieira (@ann_robert) October 3, 2013
Zuckerberg is reading the playbook from Milton Hershey. Menlo Park, Calif will become “Facebook Park Calif.”! Is Fac…https://t.co/vFKck9q8Dp
— Keith Kuehlewind (@KKuehlewind) October 3, 2013
— Soma_Girl_Says (@TrishaSuri) October 3, 2013