Facebook's Oculus Files For $106M In Construction, Development Permits In Redmond

Courtesy of BuildZoom
Facebook's Oculus Will Invest $106M In Redmond.

Oculus has filed for $106M worth of building permits in the Redmond area since 2015, with the bulk of those this year. The company, which is owned by Facebook, has filed $88.5M worth of permits since January.

The surge in permit requests corresponds to Mark Zuckerberg's October announcement that he wants to get 1 billion virtual reality users. Oculus VR is a virtual reality company that was purchased by Facebook in March 2014 for $3B.

The permit information was compiled by BuildZoom, a contractor referral firm.

Courtesy of BuildZoom
Most of the construction and building permits filed were for property on Willows Road in Redmond.

The majority of the Redmond permits are for property on Willows Road NE. Two are for property on 148th Avenue NE and one was for a 95th Street address. The majority of the construction projects are for the development of office and laboratory space.

Continue reading this story with a free account

Log in or register
Related Topics: Facebook expansion , Oculus Rift
Sign up for more articles like this
Subscribe to Bisnow's Seattle Newsletters
Related Stories

Metropolis Is Bringing AI To The Parking Experience, And Property Owners Are Taking Notice

CoStar To Acquire Aerial Imagery Company For $730M

How Pacific Northwest Multifamily Owners Are Using Sustainability To Strengthen Asset Performance

Seattle Property Owners Face A Patchwork Of Stormwater Rules. Here's How To Stay Compliant

BlackRock Invests In 3D-Printing Construction Startup Valued At $1.4B

After Years Of Rising Vacancy, Kendall Square Starts To Gain Momentum From AI

How Healthcare Providers Are Bundling Care Services Under One Roof, With Patient Needs Top Of Mind

Augmentation, Not Replacement: How AI Platforms Are Streamlining Front Desk Teams

Why Hospitals Must Be Designed For Talent Retention

JLL Technologies Chief To Leave Brokerage Giant

FIRST DRAFT LIVE: AI Has Arrived For CRE And Its Clients. Who Is Responsible For The Outcomes?

AI In CRE Must Respect The Asset Class, Or It Won't Work