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Apple Park Boosting Real Estate Prices In The Area

Apple’s move to a new campus, dubbed Apple Park is creating plenty of buzz right now, and with around 12,000 employees set to descend on the area, local residents are finding that the new Apple presence is impacting their lives already, both for good and for bad.

A new report by the New York Times delves into the changes, and how residents are responding.

In order to house all those employees, Apple Park will cover 2.8 million square feet, 176 acres, and bring a huge influx of traffic to the surrounding Sunnyvale area. Construction work has already caused plenty of disruption for those living in the nearby neighborhood of Birdland, with those who take photos and aerial footage of the new home of Apple even going so far as to ask local residents if they can use their property in order to get a better position.

Onlookers snap pictures of the spaceship from the streets. TV helicopters circle above. Amateur photographers ask residents if they can stand on driveways to operate their drones, hoping to get a closer look at Apple Park.

“I just say, ‘Hey, go ahead,’” said Ron Nielsen, who lives in Birdland, a Sunnyvale neighborhood across the street from the spaceship. “Why not?”

Those who do live in the area are finding that their homes are now worth more than they once were because of the additional interest. Local real estate agents told The New York Times that since news of Apple’s impending move to the area, “prices in the area really started to rise.” By way of comparison, back in 2011, a three-bedroom, two-bathroom, 1,400 square-foot house would set prospective home owners back around $750,000. These days, that has since doubled in price.

Birdland is already drawing Apple employees, replacing homeowners who have cashed out to move to quieter regions.

While some employees are already on-site, construction is expected to continue for some time, with some buildings expected to open some time in the fall.

(Source: The New York Times)

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