Facebook
Facebook is ready to expand again. And this time it’s going to be a “mixed-use village” right behind its headquarters in Menlo Park. The social media company is calling it Willow Campus and it’ll be a small village with 1,500 apartments, retail and office space, grocery, and pharmacy. "Part of our vision is to create a neighborhood center that provides long-needed community services. We plan to build 125,000 square feet of new retail space, including a grocery store, pharmacy and additional community-facing retail," Facebook said in its announcement.
The apartment units will be open to all prospective tenants with 15 percent of them being offered at below market rates. Facebook is saying the campus is part of its plans to help improve the housing market in the San Francisco Bay Area. The tech companies in the area have been getting ire of Bay Area locals who say they’re driving up rent prices and changing the neighbourhoods with their presence.
The office space, according to a Facebook representative that spoke with CNET, will be used by the social network. Recode is refuting the claim though with a spokesperson saying they are “not able to discuss other specifics right now.” What’s clear, though, is they hope that with this campus, it’ll help ease traffic congestion in the area with less employees commuting. The company is also looking to invest in regional transit.
Facebook wants to file the plans with Menlo Park officials this month and hope to finish the first phase of the build by 2021. You can see what Facebook plans to do in this video.