CEO of Facebook Mark Zuckerberg plans to demolish four houses surrounding his Palo Alto home including one he paid $14 million for — and replace them with 4 smaller houses.
The San Jose Mercury reported that a May 16 letter from property managers of the homes on Edgewood Drive and Hamilton Avenue was distributed to neighbors informing them of Zuckerberg’s application with city planners.
“The plans will diminish overall square footage relative to the existing homes and aim to ensure the new structures and surrounding gardens amalgamate seamlessly with the neighborhood,” the letter said, according to the Mercury.
In 2013, Mark Zuckerberg purchased the properties at 1462 Edgewood Drive and 1451, 1457 and 1459 Hamilton in the Crescent Park neighborhood for more than $30 million. The billionaire sought the parcels as a buffer zone to protect his privacy.
He first began buying the homes — two single-story homes and two two-story houses— in December 2012 after learning of a developer’s plan to build a large house next door that would have a view of Mark Zuckerberg’s master bedroom.
A reporter Trulia reported that Santa Clara County property records showed that one homeowner sold to Mark Zuckerberg for $14 million. The home is just 2,600 square feet — half the size of that house where Zuckerberg already live and valued at the time at $3.171 million.
Mark Zuckerberg paid $7 million for his 5,000-square-foot home in May 2011.
The new homes one two-story house and three single-story houses will take up about 20 percent less space than the existing home, according to request submitted Tuesday to the city’s Planning and Community Environment Department. The application does not ask for a lot merger or lot line adjustment.
It is not known how Mark Zuckerberg will use the new homes, but they could be rented or sold.
The Crescent Park Neighborhood Association has not taken a position on the application, which requires a public hearing.