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A total of 104 new apartment units are now available for lease at a recently built complex near Facebook in Menlo Park, the developer announced at a Nov. 2 grand opening event.
Rents are expected to range between $3,100 and $6,100 a month.
The 6.5-acre complex at 777 Hamilton Ave. is located between Facebook’s Building 20 (at Bayfront Expressway and Willow Road) and Belle Haven.
This is the first apartment complex of more than 10 market-rate units to be built in Menlo Park since 1974, when the Sharon Green apartments were constructed in Sharon Heights, said Bob Burke, principal at Greenheart Land Company, which built the new apartments.
When construction is completed, the complex, known as 777 Hamilton, will have 195 apartments: 117 one-bedroom units, 52 two-bedroom units and 26 three-bedroom units.
According to the website, 777Hamilton.com, the monthly rent for the one-bedroom apartments will be between $3,150 and $3,600; for the two-bedroom units, between $3,838 and $4,282; and for the three-bedroom units, between $5,311 and $6,164.
There are bike storage spots, a dog park, a fitness center, a hot tub and outdoor barbecues among other amenities. The website says the apartments are “pet friendly” and will allow certain breeds of dogs with a consent form, veterinarian statement and security deposit.
The apartments are expected to house people who work at Facebook or at Menlo Park Labs, in the life sciences area near O’Brien Drive, Mr. Burke said, but at least one Stanford professor has leased an apartment.
None of the apartments will be part of the city’s “below market rate” housing program. However, 22 apartments will be subsidized by Facebook for teachers as part of a development agreement the company signed Nov. 1 with the city of Menlo Park in connection with Facebook’s planned expansion.
Facebook has committed to contribute $430,000 per year for five years toward the rent subsidies. The company declined to comment on how the funds would be distributed to tenants.