Real estate business

Facebook is launching into real estate

Facebook has its roots in the real world, with a planned community near its headquarters in Menlo Park, Calif., Complete with a supermarket, restaurants, shops, and a 193-room hotel.

Willow Village will truly be a corporate town, with 1,729 apartments on site, including 320 affordable units and 120 for seniors.

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

Green town square of development.

The design of Willow Village is pedestrian-friendly, with bike paths and expansive sidewalks, and includes plenty of public green space, including a quarter-mile elevated park similar to the High Line in Manhattan.

Plans also call for a new 1.25 million square foot Modernist office building, including a huge glass dome-shaped area envisioned as a “collaboration area.”

“Facebook wants to modernize this and bring it into the 21st century,” Mike Ghielmetti, president of Signature Development, told The Mercury News in January.

The company filed documents to redevelop the half-century-old Prologis Menlo science and technology park in 2017, but encountered resistance during the two-year public comment period. Residents of neighboring neighborhoods like Belle Haven have complained that this will make traffic worse and make housing even more scarce.

A rendering of the master plan of the Facebook project.

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