July 27, 2017

"San Francisco has gotten so expensive even tech workers making six-figures struggle to make ends meet — or refuse to move there at all."

CNBC: Some Facebook engineers reportedly asked Mark Zuckerberg for help paying rent while Twitter employees earning $160,000 can feel like they're barely scraping by. by Emmie Martin

'Even some residents making six-figures can qualify as "low-income" and receive housing subsidies. And Facebook has taken notice.

'In June, the social media giant released plans to turn the 56-acre Menlo Science & Technology Park it bought in 2015 into a company town they're callingthe Willow Campus. The development will include 1,500 new housing units, 15 percent of which will be priced below the market rate. The village won't be comprised of only Facebook employees, either. Facebook will open up the units to the community at large, Business Insider reports.

'Google has similar plans to alleviate Silicon Valley's housing crisis. Google's parent company, Alphabet, is paying about $30 million to provide temporary, prefab housing for 300 of its employees.'

No comments: