Apple Will Pay $5 Billion For New Headquarters
Posted: April 8, 2013 by Maja Johnson
With a cash pile worth $100 billion, Apple can spend a few bucks on building a new office "crib". When Steve Jobs presented his idea of the new Apple's headquarters to the Cupertino City Council in 2011, the New Apple Campus was estimated to cost around $3 billion. He wanted to construct a spaceship-like building, 4 stories high, spreading across 2.8 million feet that will be able to accommodate more than 12,000 people. His dream was to design and build the best office building in the world.
However, dreams this large don't come cheap. In two years since Jobs' idea was primarily presented, the cost for the construction of the new Apple Headquarters has risen to a mind-blowing $5 billion. This makes it one of the most expensive real estate properties per square foot in the USA. The reasons for the costs lie mainly in Jobs's vision of the building – he wanted perfection as in everything else he designed; best materials, best maple wood, no paint strokes, no gaps nor seams and so on.
The Apple Headquarters seemed like a very good idea two years ago as the Wall Street Market predicted. Back in those days "Apple could do nothing bad". However, 2 years later, with a drop in the stocks to just $500 a share, Apple's biggest shareholders are reconsidering this new investment. Their first step was to postpone the move time from 2015 to 2016. The construction of the Headquarters is planned to start in 2014 and that date has not been changed yet. Apple is looking for ways to lower the costs for at least $1 billion. It is working with the famous architect firm Foster & Friends regarding the design of the futuristic building and possible budget cuts.
Will we ever witness the construction of this masterpiece or will Steve Jobs's dream be left for some future generations to follow? Only time will tell.