Facebook Inc (FB) To Build $120M Housing Center For Employees
Facebook Inc (NASDAQ:FB) offers some of the greatest perks out of any other tech company including four months of maternity and paternity leave. Now Facebook is now building a small “town” for employees called Anton Menlo. The $120 million and 394-unit housing community is within walking distance from Facebook’s headquarters. The Anton Menlo is a 630,000 square foot rental property that will have a sports bar and doggy day are.
“We’re certainly excited to have more housing options closer to campus, but we believe that people work at Facebook because what they do is rewarding and they believe in our mission,” stated a Facebook spokeswoman in an interview with The Wall Street Journal.
Many employees inquired about places to live near Facebook due to a housing shortage in Menlo Park. Real estate is very expensive around Silicon Valley and San Francisco as well. They are up 24% in Q4 2012 according to DataQuick.
Anton Menlo can be rented at market rates, but there are a handful set aside for low income residents. Facebook worked with amenities team has worked with developer St. Anton Partners.