MENLO PARK — As Meta Platforms reports billions in revenue amid plans to cut thousands of positions worldwide, the tech giant announced that it will pause its development of a new Menlo Park mixed-use neighborhood that was planned near the company’s headquarters.
The now-paused project, Willow Village, was slated to consist of homes, retail spaces, a grocery store, and modern offices.
“The decision to place Willow Village on hold was difficult,” said Adam Alberti, spokesperson for Peninsula Innovation Partners LLC, the Meta Platforms affiliate that owns the development site and is the applicant for the project. “While the plan reflects a genuine vision for community-based development, the current real estate market and a shift in space requirements make advancing a project of this type and scale unworkable at this time.”
Menlo Park-based Meta has been seeking ways to trim the size of its workforce as it reduces its office space footprint in the Bay Area…