Soon, You’ll be Paying Facebook Rent


Apparently, free meals, in-house gym access and laundry service isn’t enough to keep tech employees at work. But what about an on-campus apartment? Facebook is the latest Silicon Valley company to take such a step, partnering with a real-estate developer to build a 394-unit apartment complex in the town the social media giant calls home: Menlo Park, Calif. 

“Facebook is a strong supporter of its local community and consistently recognized as one of the best places in the world to work,” a Facebook spokeswoman said, according to the San Francisco Chronicle. “This project advances both goals, by providing our employees an excellent new housing option within walking distance to campus while investing in new housing opportunities in our local community.”[more]

But the complex won’t be restricted to just Facebook employees. Fifteen apartments in the $120 million complex have been set aside as low-income housing in order to comply with Menlo Park law, the San Jose Mercury News reports. There will be 35 studios, 208 one-bedrooms, 128 two-bedrooms, and 12 three-bedroom apartments. While there’s no word on official rent prices yet, we wonder if Facebook ‘likes’ will garner a discount.  

The complex will include ammenities such as a “pool, communal kitchen facilities and rooftop deck,” as well as a “grab-and-go convenience store, sports pub, bike repair shop, a yoga room with personal trainer, and a pet spa with doggy day care,” according to the Chronicle.

But don’t go signing a lease just yet. Menlo Park’s planning board will meet Oct. 7 to review the project’s design. Facebook isn’t the first big-name Silicon Valley company to invest in such low-tech projects. Google invested $6.5 million into a 51-unit apartment building that opened in nearby Mountain View last month.

Image courtesy KTYG Group via San Francisco Chronicle.