The new Apple headquarters in Cupertino, called Apple Park, is scheduled to open this month. They say it will take more than six months for 12,000 employees to move-in.
Here is a drone update on the construction. Looks like they will continue working as they move in. Sounds like a lot of my clients.
Here are a few fun facts:
- Size – 176-acre site or 2.8 million square feet
- Building – more than one mile round with 300,000 square feet of research facilities and underground parking.
- Windows – 6 kilometres of custom curved windows on both sides
- Interior – every wall, ceiling and floor polished to a supernatural smoothness. Wood is harvested from the heartwood of a specific species of maple.
- Landscaping – 7,000 trees, 2 miles of jogging paths and cycling trails.
- Heating and Cooling – the main building requires no air conditioning or heating for three-quarters of the year due to natural air flow.
- Cost – close to $5 billion
- Fitness Center – a $75 million facility intend to serve 20,000 employees in Silicon Valley.
- Transportation – 1,000 bikes will be shared by the 12,000 employees.
- Old HQ – on Infinity Loop will continue to be used.
As to Apple’s impact on our local real estate market. Apple said the number of employees based in Santa Clara County would grow to 41,100 in 2016. A little over half (23,400) would be based in Cupertino. On top of this, Apple expects to grow the number of employees by 10% per year.
The top 5 cities to live in for the Cupertino employees are San Jose (25%), San Francisco (14%), Cupertino (8%), Sunnyvale (8%) and Santa Clara (6%).
That creates a lot of demand for residential real estate in the core area of Silicon Valley: Palo Alto, Los Altos, Mountain View, Sunnyvale, Cupertino, Santa Clara, San Jose-Cambrian, Saratoga and Los Gatos.