Town Square

Post a New Topic

Facebook to leave downtown Palo Alto

Original post made by Evan, Crescent Park, on Jun 24, 2008

Remember the PA Weekly article about the effect of the hundreds of Facebook employees on downtown Palo Alto. Well, it looks like Facebook has outgrown University/Hamilton Ave:

Web Link

What will be the effects of the move? Decreasing rents, thanks to the lack of employer-subsidized renters in downtown? A much older crowd populating downtown PA on weekends?

Comments (4)

 +   Like this comment
Posted by Evan
a resident of Crescent Park
on Jun 24, 2008 at 11:20 am

Evan is a registered user.

Link to the Weekly's Feb. story:

Web Link

 +   Like this comment
Posted by Bye-Bye Facebook
a resident of Another Palo Alto neighborhood
on Jun 24, 2008 at 1:51 pm

Facebook rented the same office space where GOOGLE started. Seems these companies start in Palo Alto but then move on to bigger and better spaces in Mountain View, Sunnyvale, and Santa Clara. Can't say I blame them, office space is cheaper down there.

 +   Like this comment
Posted by VC
a resident of Old Palo Alto
on Jun 24, 2008 at 2:52 pm

Bye, bye...this improves our jobs housing imbalance. It won't result in rent decreases, because this is a destination city. What's really needed is serious rent control legislation. Will that happen? Probably not.

Also, Facebook and the other social networking companies (MySpace, Twitter, etc) has got to be the most seriously overvalued bunch of companies since AOL. Facebook?? Get serious. Who cares?

 +   Like this comment
Posted by pete
a resident of Professorville
on Jun 25, 2008 at 7:39 pm

I wonder how much revenue Facebook generates for our City. Google is a cash source for Mt. View. Any profitable business is worth keeping, but I doubt our City business department has made much effort to keep Facebook. A few years ago there were many empty buildings in downtown. We cannot afford this again.

The many employees who eat at the local restaurants will be missed - another lost revenue source.

Don't miss out on the discussion!
Sign up to be notified of new comments on this topic.


Post a comment

Posting an item on Town Square is simple and requires no registration. Just complete this form and hit "submit" and your topic will appear online. Please be respectful and truthful in your postings so Town Square will continue to be a thoughtful gathering place for sharing community information and opinion. All postings are subject to our TERMS OF USE, and may be deleted if deemed inappropriate by our staff.

We prefer that you use your real name, but you may use any "member" name you wish.

Name: *

Select your neighborhood or school community: * Not sure?

Comment: *

Verification code: *
Enter the verification code exactly as shown, using capital and lowercase letters, in the multi-colored box.

*Required Fields

Spring food and drink goings on
By Elena Kadvany | 0 comments | 2,324 views

Couple’s Strife: 3 Tools for a Happier Relationship
By Chandrama Anderson | 0 comments | 1,145 views

In the company of mice
By Sally Torbey | 5 comments | 1,131 views

The Sad Family Photo
By Cheryl Bac | 0 comments | 950 views

Frustrated with arguments on the parcel tax
By Douglas Moran | 26 comments | 923 views