search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment deal“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment dealDavid Werner strikes $115M deal to snap up 100 Wall Street at big discountDavid Werner strikes $115M deal to snap up 100 Wall Street at big discountSL Green, Vornado kick in $100M to extend 280 Park loanSL Green, Vornado kick in $100M to extend 280 Park loan
New York

Facebook and Google to build affordable housing for Silicon Valley employees

Sign Up for the undefined Newsletter

Facebook announced plans to redevelop 56 acres for housing its Silicon Valley employees. The company plans to develop Menlo Science and Technology park into 1,500 housing units (15 percent will be affordable) with 125,000 square feet of community retail space for amenities like a pharmacy and a grocery store. Facebook plans to complete the project in 2121. Alphabet, the parent company of Google, also announced that it would pay $30 million in temporary housing provisions for 300 of its own employees. [Housingwire]