The company will subsidize 15 units in an upscale 400-unit apartment complex in the city, the Palo Alto Daily News reported, as it reached an agreement with developer St. Anton Partners involving a $120 million development on Haven Avenue, near Marsh Road, off of Highway 101, and less than two miles from Facebook headquarters.
Facebook’s payment was not disclosed, but Menlo Park Senior Planner Deanna Chow told the Daily News that if the company opted to pay an in-lieu fee, it likely would have been charged about $4.5 million.
According to the Daily News, the complex will feature a convenience store, coffee shop, sports pub, bike repair shop, pet spa, yoga room, rooftop deck, clubhouse, and “resort-inspired” pool area with cabanas.
Facebook has already broken ground on West Campus, which was designed by renowned architect Frank Gehry.
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