Facebook enters the real estate business

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Facebook is rooted in the real world, with plans to build a community with a supermarket, restaurants, shops and a 193-room hotel near its headquarters in Menlo Park, California.

Willow village will be a truly corporate city – with 1,729 apartments on site, including 320 affordable apartments and 120 dedicated to senior citizens.

The development of the 59-acre site, which is now an industrial research complex, is the result of a collaboration between Facebook and Signature Development Group, a Bay Area real estate developer best known for hive, a mixed-use commercial, retail and residential space in Auckland.

Green city square.

Willow Village’s design is pedestrian-friendly, with bike paths and wide sidewalks, and includes numerous public green spaces, including a quarter-mile park similar to Manhattan’s High Line.

Plans also include the construction of a new 1.25 million square foot modernist office building, including a massive glass dome intended for “collaboration.”

“Facebook wants to modernize this and move it into the 21st century,” said Mike Gilmetti, president of Signature Development. Mercury News in January.

The company filed for the renovation of the half-century Prologis Menlo Science and Technology Park in 2017, but faced resistance during the two-year public comment period. Residents in nearby areas such as Belle Haven have complained that this will worsen traffic and make housing even more scarce.

Visualization of a large master plan for a Facebook project.

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