Technology companies with strong financial strength have begun to popularize large-scale projects and build magnificent headquarters. This will certainly change the face of the entire Silicon Valley.
For example, Facebook, a social network, has applied for a $1 billion West Campus in Menlo Park. The park was designed by the famous architect Frank Gehry.
It is worth noting that the cost indicated on the building permit accounted for only a small part of the actual cost of the project. The actual cost of the project may be much higher. For example, the construction cost of Apple Park's building license on Apple's spaceship campus is about $1.1 billion, and other estimates suggest that Apple Park's total cost is close to $5 billion. Google also implemented its ambitious architectural planning in Mountain View, California.
The first office building in the West Campus of Facebook, officially known as the MPK 20, has a construction area of 444,000 square feet. The building was opened in March 2015, and the construction cost indicated on the building permit was US$177 million. However, this building is just the first building of the Facebook campus project. The cost of the next two building buildings is much higher, at US$303 million and US$300 million, respectively.
The building contents stated on Facebook's building permit include:
MPK 21, designed by Gary, belongs to the extension of MPK 20, cost: 300 million US dollars.
MPK 22, designed by Gary, 4 storey office building, cost: US$303 million.
8-storey parking building, cost: 73 million US dollars.
MPK 23, a refurbished warehouse, costs $27.3 million.
This does not include a 1 million square foot park that Facebook previously acquired from Sun Microsystems. In addition, Facebook is also preparing to sign an entire 43-story Park Tower building in San Francisco. This will allow Facebook to obtain 750,000 square feet of construction space in downtown San Francisco.
Facebook is also preparing to develop a mixed-use office building in Willow Village with an area of 49 acres.
Because local governments are reluctant to reject these requests for aggressive expansion of the site, many technology companies such as Facebook, Google and Apple may continue to exert pressure on the expensive real estate market in the region.