Menlo Park: 104 new apartments units near Facebook up for lease

Glad to see Facebook offering subsidies for housing for teachers. Would love it to be 10x larger, but a good start. Also think we need subsidies for all the other fine workers in the area, including police and firemen, nurses, cooks, etc.

Doing some simple math, if FB is offering $430K per year and all of that goes to these 22 apartments for teachers, that equals $35,833 per month and about $1,630 per apartment per month. So a 2-bedroom apartment that lists for $4K per month would cost the renter about $2,400 per month. That makes the numbers work a lot better for a teacher with a family.

Hopefully, we can have more more teachers (and police/fire/nurses) living in town enhancing the fabric of our community versus commuting each day, adding to the gridlock.

How nice. The city extorts $430,000 per year from Facebook to subsidize teacher housing. That subsidy should be reflected in the per pupil cost of education, which is approaching $20,000/year in MPCSD. Maybe Facebook will pay the fee to MPCSD for distribution and it will show up in their budget as compensation for teachers. Don't hold your breathe. San Mateo Community College District developed staff housing which is exempt from property taxes, and is offered to staff at below market rates.

Why is it that you hate teachers? Is it something in your past that you cannot find it within yourself to understand why helping teachers out in this area is a good thing?

Your stances truly are puzzling, to say the least.

It is too bad that 'market rate' means un-affordable for many people. It is no wonder that people are moving away. I'm not saying that owners are not entitled to a fair return on their investment property; however, I do wish we were building homes that low paid workers could afford.