Willow Village will be wedged between the Menlo Park neighborhood of Belle Haven and the city of East Palo Alto, both heavily Hispanic communities that are among Silicon Valley’s poorest. Facebook is planning 1,500 apartments, and has agreed with Menlo Park to offer 225 of them at below-market rates. The most likely tenants of the full-price units are Facebook employees, who already receive a five-figure bonus if they live near the office.
Oh my god… can I get one of those below market rate apartments please.
To me it’s seems like Companies such as FB & Google do not want to build company housing for employees. However, due to shortage+low pricing of homes they are being forced to do so.
I’m guessing you can as long as you can show your income for a family of 4 is below $70000(something like that).
That’s fine I’ll collect less rent for a year and adopt 3 kids to accommodate
I don’t want to live a block away from work. That ain’t work!
Partial goal is also to “encourage” one to stay at work all the time.
Many of FB’s employees are single right? Why can’t FB buy a couple hotels near campus and let them stay there? Or even more economical they can just build some dorms around campus. No need for fancy housing.
That’s what I meant. Imagine you trying to hide from the boss pretending to be sick, but he gets you trimming the yard?
That sounds like Tokyo… not USA…
I would rather say that FB or Google or whoever would be better creating work zones out of this area and giving down payment to buy a home there to employees to live out of the Bay Area.
We are getting to live like sardines over here.
Sardines? In Hong Kong they are selling 180 ft “nano apartments” for 500K USD. I don’t think we have the bragging right to call ourselves sardines.
I don’t want to live like Hong Kong.
I think it’ll be difficult for FB to encourage excellent employees to work for it in USA when the Welcome book says “Welcome to Hongkong living in SFO,Bay Area”
It’s fine, many people already preferred to pay couple million dollars for a 3000 sqft lot in Bay Area over acres of land in middle America.
By the way, remember the topic about that house in EPA, where the deflectors started to talk about dogs instead of the location? Well, that house will be close to this development.
For recent college graduates living in high density dorms is way more fun than SFH in dead suburbs. There are already startups setting up adult dorms in SF and NYC. If I were young and single I’d definitely move into one of these.
There are plenty of dorm type houses on the Peninsula. Like startup Mansion in Atherton.
Facebook employees, who already receive a five-figure bonus if they live near the office.
FB and Google are the generous ones while Apple and Amazon are stingy!