The Real Deal New York

Facebook and Google to build affordable housing for Silicon Valley employees

July 14, 2017 05:27PM

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]