Twitter Inc (NASDAQ:TWTR) wants to transform its Mid-Market presence into a sort of urban campus, and as a part of this effort it has come up with the idea of connecting its two headquarters buildings in San Francisco with the help of a sky bridge. This proposition, according to the company, is simply a matter of efficiency, and city approval on the project is still awaiting, says a report from SF Gate.
Twitter aims to save time and energy of employees
According to Twitter, it takes a lot of time and effort for its employees to move from one building to another. One property is located at 1 10th St. and an employee first has to exit the building and cross a Stevenson Street alleyway to reach the other building located at 1355 Market St. Most of the time spent by an employee in riding elevators and crossing the street could saved by a sky bridge, the micro-blogging firm argues.
Joel Greenblatt Owned Hedge Fund On Why Value Investing Isn’t Working Now
Acacia Capital was up 12.27% for the second quarter, although it remains in the red for the year because of how difficult the first quarter was. The fund is down 14.25% for the first half of the year. Q2 2020 hedge fund letters, conferences and more Top five holdings Acacia's top five holdings accounted for Read More
“It would take at least five minutes per employee to go down an elevator, out of one building, into the other, and up the elevator to the right floor,” a company statement explained. “It just makes sense.”
Twitter Inc (NASDAQ:TWTR) has made a real effort to transform the Stevenson Street into an urban plaza, and this street would be spanned further by the proposed bridge. The proposal has not been reviewed by the Department of Planning yet, according to a spokesperson at the dept. Details for the walkway have not been disclosed by Twitter to date.
More tech firms relocating to San Francisco
Twitter Inc’s 10th street property was leased recently. The company has its headquarters at the Art Deco Market Street at present and it moved here in June 2012. At that time, an offer was made to the company for a six-year payroll tax break if it agreed to remain in San Francisco and did not relocate to the tech industry’s traditional core in Silicon Valley.
Companies like Facebook Inc (NASDAQ:FB) and Google Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) have their campuses sprawling across Silicon Valley, but Twitter-like urban campuses are the tech industry’s new aesthetic. In 2012 and 2013, more than two dozens Silicon Valley companies relocated to San Francisco, including big names like Pinterest, Twitter and Dropbox.