Facebook, Menlo Park To Discuss West Campus
Before Facebook can start breaking ground on its Frank Gehry-designed West Campus extension, the company needs to discuss the direction of the building with the Menlo Park, Calif. City Council. The Silicon Valley/San Jose Business Journal reports that the city council will discuss Facebook's newest planned addition during their Wednesday meeting. The building could bring significant revenue to the city, which is facing a deficit this fiscal year.
Before Facebook can start breaking ground on its Frank Gehry-designed West Campus extension, the company needs to discuss the direction of the building with the Menlo Park, Calif. City Council. The Silicon Valley/San Jose Business Journal reports that the city council will discuss Facebook’s newest planned addition during their Wednesday meeting. The building could bring significant revenue to the city, which is facing a deficit this fiscal year.
Earlier this year, it was reported that Facebook would have to pay Menlo Park roughly $14.5 million over the next 14 years, helping out the cash-strapped city.
Additionally, the Business Journal notes that the deal could also contribute $1.265 million in one-time traffic impact fees. Negotiations are expected to start Wednesday, when city council will give input on the West Campus and share what direction they’d like for the city’s newest planned building.
In addition to the $14.5 million, Facebook would also have to set aside $4.5 million earmarked for affordable housing.
In exchange for these concessions, Facebook would be allowed to break ground on the West Campus in 2013. The 22-acre property will host a 433,555-square foot building and roughly 1,540 parking spaces. The building would reportedly be the worlds largest single room. It would also include a “living roof,” along with a walking trail and outdoor dining areas.
The West Campus is expected to bring more than 2,000 jobs to Menlo Park.
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