Modern Company Town

Facebook builds apartments

By Yardi Blog Staff on Oct 11, 2013 in News

Facebook employees in California are about to find out what it means to reside in a modern version of the historic “company town”. The social media giant is working with Yardi client St. Anton Partners, a local multi-family development and investment company, to develop an upscale multi-housing complex within walking distance of Facebook’s existing Menlo Park headquarters and their new West Campus, which is currently under construction.

Designed by national architecture firm KTGY Group, Inc., the multifamily compound was envisioned as a cohesive live/work/play environment where practical design meets style and comfort.

Dubbed Anton Menlo, the infill redevelopment project represents the Menlo Park City’s first significant new apartment building in over 20 years.

“At over 630,000 sq. ft., this project is one of the largest new construction rental residential projects in the state. We’re pleased to bring it to where housing is needed most,” noted Peter Geremia, co-founder of St. Anton Partners, in a written statement.

The site recently received its final zoning approval from the City Council and is currently in the design review phase with City staff, according to official statements.

“We are thrilled to have new housing options coming to the City of Menlo Park to serve the Silicon Valley and the Marsh Road and Willow Road business areas,” said City of Menlo Park Mayor Peter Ohtaki. “Providing new housing opportunities for employees working in the area will allow people to live where they work and to spend more time enjoying this great city.”

To be located on a piece of formerly industrial land, a 10-acre tract near Marsh Road off of Highway 101, the $120 million community will comprise 394 apartment homes primarily designed to meet the needs of today’s sophisticated renters. It will offer a mix of floor plans including 35 studio residences, 208 one-bedroom residences, 139 two-bedroom residences, and 12 three-bedroom residences. While directly targeted at Facebook employees, the community is also open to the general public as well as low-income residents.

As part of their Below Market Rate Agreement with Menlo Park, Facebook has funded fifteen affordable housing units for inclusion at the project. These units will be income restricted for 55 years and are indistinguishable from the community’s market rate units.

Anton Menlo won’t be short of cutting-edge technology features and resort-style amenities catering to busy professionals and creative minds working in the area. The community will boast approximately 13,200 sq. ft. of resident amenity space and management offices, including an on-site “grab & go” convenience store, café, and sports pub; indoor/outdoor wellness, yoga and training facility with personal training; sparkling pool, spa and cabana area; large rooftop entertainment deck with three-themed areas; bicycle repair shop with on-site storage; concierge services – dry cleaning and package drop off; iCafe – new generation community business facility; as well as a clubhouse with full kitchen and cooking area including outdoor facilities. Pet owners will be glad to know the community offers exclusive pet services, including a pet spa with doggy day care, pet walking services, and an outdoor dog park and run.

The developers have coordinated with the City of Menlo Park as well as adjacent property owners to make sure that every part of the big picture works well with the other. Several infrastructure projects and transit-oriented development improvements have been proposed for the Haven area, including a direct pedestrian and bicycle connectivity from the “Bay Trail” to Anton Menlo; new and repaired pedestrian sidewalks throughout Haven Avenue with street lighting and lighted crosswalks; as well as improved bus stop facilities, including on-site shuttle stops at Anton Menlo.

Construction is set to begin this month and is expected to be complete in 24 months.

Photo credits: KTGY Group, Inc.