Facebook takes ‘home office’ to a new level
It’s all coming full circle: The social network that famously began in a dorm room is now essentially thinking about buildging dorms on its own office campus.
According to the Wall Street Journal, Facebook said it’s in talks with a developer to build a $120 million, 394-unit housing community called Anton Menlo that’ll be within walking distance of its offices. Amenities of the 630,000 square-foot rental property would include a pet spa with doggy day care, an indoor/outdoor wellness and yoga studio, a bike repair shop, a convenience store and a sports bar. At this point, there’ll be space for only about 10 percent of Facebook employees.
The old-school idea of a company town, like those of the coal mining regions of the early 20th century, could be an ideal situation for those working in Silicon Valley, where real estate prices are skyrocketing amid a housing shortage in the Bay Area.
On the other hand, the ever-in-flux mindset of the tech community is completely contradictory to the idea of living where you work. Younger tech employees don’t necessarily feel tied to their companies, and having to sign year-long leases with your employer might feel something equivalent to a death-sentence commitment.
How would you feel about living so near work, or about living in a space owned by your employer? Would it be a benefit, or a downside?
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.