|
|
|
Uploaded: Thursday, February 28, 2013, 9:44 AM
Facebook seeks land for housing in Menlo Park
Outbid on Hamilton Avenue land purchase
|
|
by Sandy Brundage
Almanac Staff
Like the city itself, Facebook's hunting for spots to build homes in Menlo Park. The social media company either needs to create 15 homes, or pay $4.5 million in in-lieu fees, according to the proposed below-market-rate housing agreement
An attempt to buy lots the city owned at 777-821 Hamilton Avenue failed when Facebook was outbid, according to company representatives. Menlo Park sold the land for $8 million in November to Greenheart Land Company, which plans to build housing on the 2.1 acres, and possibly expand the project to 7.1 acres if adjacent property owners agree to sell.
The agreement is tied to Facebook's plans to build a sprawling "office in a forest" at 312 and 313 Constitution Drive, down the road from its main campus. Designed by Pritzker Prize-winning architect Frank Gehry, the 433,555-square-foot building would perch on top of approximately 1,540 parking spaces, and blend into the landscape through ground-level gardens that wind their way up to a rooftop terrace, creating a forest visible from the Bayfront Expressway. An estimated 2,800 employees, mainly engineers, would work there.
In January the City Council unanimously approved a development agreement for the auxiliary campus that provides $1.7 million paid to the city over 10 years, a vehicle-trip cap and possible tax revenue.
Housing commissioners unanimously recommended approval of the below-market-rate housing agreement on Feb. 20. The contract went to the Planning Commission on Feb. 25 and received unanimous approval; it now passes to the City Council for a final review.
Are you receiving Express, our free daily e-mail edition? See a sample and sign-up for Express.
|
|
| Comments
|
Posted by Area resident, a resident of the Evergreen Park neighborhood, on Feb 28, 2013 at 10:50 am $4.5 million is a lot of money to me but hardly a drop in a bucket to Facebook. Is it possible to build local housing for $300K/unit when the price of lands is included? Possibly if it below market rate but I'm sure it's not comparable to the properties that are normally built in the city.
|
|
Posted by Steve C, a resident of Menlo Park, on Feb 28, 2013 at 11:35 am $300K for anything resembling housing in Menlo Park? I don't think so. Sounds like the plan was to pay the $4.5 mill all along.
|
|
Posted by j99, a resident of the Barron Park neighborhood, on Feb 28, 2013 at 3:18 pm Facebook should take its company and people and move to Arizona or Texas or Mississippi and stop the congestion here in mid peninsula. Too many people and too crowded already.
|
|
Posted by member, a resident of the Crescent Park neighborhood, on Feb 28, 2013 at 3:48 pm to j99:
Why can't you move to Arizona or Texas? if you feel it is congested here. Maybe you want to move to Detriot that no one wants to live and you will not fee congested.
|
|
Posted by neighbor, a resident of Another Palo Alto neighborhood, on Feb 28, 2013 at 4:34 pm Can anyone comment: I am confused because I thought that land along the bayfront -- like where the Facebook campus is located on the prior Sun campus -- is FILL land - and isn't that dangerous in terms of earthquake/flood?!
|
|
Posted by They wrecked our town, a resident of Menlo Park, on Feb 28, 2013 at 7:08 pm With all the traffic and commotion and crowding Facebook has caused here, let them pay their dues.
|
|
Posted by Crescent Park Dad, a resident of the Crescent Park neighborhood, on Mar 4, 2013 at 12:16 pm The answer is obvious...the vacant car lot along ECR.
|
|
|
| |
Best Website
First Place
2009-2012
|
Send this story
Print this story
