New Silicon Valley landlord

Mark Zuckerberg, Facebook
Pau Barrena | Bloomberg | Getty Images
Mark Zuckerberg, Facebook

Facebook is hoping to get into the real estate business in a big way, with a proposal to build fifteen-hundred apartments, a hotel and two new business offices on a sixty acre parcel near their Silicon Valley campus.

According to Wired, Facbook's landlord status is one way to help out over six thousand new hires moving into one of the priciest and overcrowded zip codes in the nation.

Under the tech firm's proposal, fifteen percent of its residential portfolio would be set aside to low-income families in Menlo Park, California.