Despite a multi-billion-dollar cost-cutting effort that has seen Meta downsize its global office footprint and initiate layoffs while its stock price has cratered this year, the social media giant is moving ahead with a mixed-use village it plans to build next to its Menlo Park headquarters in California.

The Menlo Park City Council this month unanimously approved Meta's new Willow Village development, a project that envisions the transformation of a former industrial park into a walkable urban town center, according to a report in the San Jose Mercury News.

Since it first proposed the project in 2020, Meta has enhanced its plan by promising to build 1,730 units of housing, a hotel, a grocery store, a town square and an elevated curving park that will connect with its global headquarters.

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