Facebook to pledge 1,500 housing units for general public - CNET

As the influx of Facebook employees continue to drive up demand (and prices) of housing in Menlo Park, Califoia, where its headquarters are located, the company is trying something different.

To accommodate plans for expanding its campus and hiring 6,500 new employees, the tech giant will build 1,500 housing units open to the general public, according to The Wall Street Joual. The company will also set aside 15 percent of these units for low- to middle-income families.

"Facebook is committed to being a good neighbor," said a spokesperson for Facebook. "We understand that our growth affects the everyday lives of our neighbors, and we want to be respectful and thoughtful about how we approach our expansion."

A few city officials support Facebook's real-estate ventures, citing that it shows how the company is "stepping up" and helping Menlo Park's lack of housing. However others, like former Menlo Park mayor Steve Schmidt, says the initiative will not do enough to offset the population growth and soaring real-estate prices of the city that Facebook itself helped increase.

Update, 11:49 a.m. PT: Adds comment from Facebook.