Facebook to build a housing society for its employees for first time in Silicon Valley


Facebook.com Announced to propose home-building Scheme for its Employees in the first time in the history of Facebook, the plan of Construction 15,00 units which will be near Facebook Headquartered.
Facebook to build a housing society for its employees for first time in Silicon Valley

Facebook has offered at least $10,000 in incentives to workers who moved closer to its offices, Tech companies have also initiated to launch services such as internet-equipped buses for its employees with long commutes.However, there have been complaints against the tech companies that they are making communities unaffordable, and they have mostly failed to address the area’s housing shortage.


Sam Khater Said Who is the deputy chief economist at real estate research firm CoreLogic:
The problem with Silicon Valley is you don’t have enough supply to keep up with the demand
More Said Facebook, the Company wants to build a village that will also have 1.75 million square feet of office space and 125,000 square feet of retail space.John Tenanes, who is the vice president for Facebook global facilities Said:
Part of our vision is to create a neighborhood center that provides long-needed community services
 Good New for all People because 15,00, Units would be open for everyone, Not for Company Employees and 15 percent of them would be offered at below market rates, the company said

Google+Followers

Like For Latest Updates