According to the Silicon Valley Business Journal, Facebook executives have said the plot of land could be publicly accessible and feature mixed-use housing, as well as retail outlets and a hotel. The area is situated near to the brand’s headquarters in Menlo Park, California.
Several media reports have suggested that it would be a few years until Facebook moves into the site, and the site purchase was to allow for the brand's future expansion.
Facebook’s real estate chief John Tenanes told the publication: "We feel you just can't build a corporate campus, it has to be integrated into the community."
The brand area could mimic that of Cadbury’s Bournville village in Birmingham, which was set up for workers of the confectionery brand to provide them a place nearby to live.
Facebook, which launched in 2004, has more than 9,000 employees.
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