Despite reports of an imminent but small layoff, Apple continues to buck economic trends impacting its peers in the tech sector. As its rivals like Amazon, Meta, and Alphabet announce austerity measures including layoff after layoff, iPhone creator Apple appears to be expanding its presence in Cupertino with a proposal to demolish and replace its 141,000-square-foot “Apple VP1,” an existing office space owned by the company on Vallco Parkway.
Apple’s proposal for the new 282,300-square-foot structure more than doubles the amount of office space offered by the existing building and significantly modernizes its features. The proposed project also includes 2,300 square feet of retail or restaurant space.
The news comes after the company cemented plans in January to purchase the 384,000-square-foot Apple Results Way Campus on Bubb Road it had been leasing for decades.
While Apple’s continued investment in Cupertino appears to reflect that the company is insulated from the economic trends impacting its rivals in the tech sector, news recently broke that the company is commencing a small round of layoffs confined to its corporate retail teams.
Cupertino’s Planning Commission has recommended that the redevelopment of the Vallco Parkway property proceed. The project now requires a Development and Architectural and Site Permit, for which the City of Cupertino is hosting a public hearing at the Cupertino Community Hall this Thursday, April 13 at 4 pm. Members of the public may also participate via Zoom.