November 4, 2016
Facebook’s Bayfront expansion received Menlo Park’s unanimous approval, paving the way for development of roughly one million square feet of office space and a 200-room hotel. The expanded facilities could be home to 6,550 workers, once completed.
Plans submitted by Hibiscus Properties, LLC, a wholly owned subsidiary of Facebook, Inc., envision connecting a once-isolated, 58-acre industrial site by creating a multi-functional environment. The social media giant has called Menlo Park, CA home since 2011, and sees the new facility as a way to contribute to the preservation and enhancement of the community.
The agreement for the site along the Bayfront Expressway requires Facebook to either build 20 below-market-rate units, or pay $6.5 million in fees into the city’s affordable housing fund. The project is expected to be completed by 2020.
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