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Facebook buys more property for its Altoona expansion

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Social media giant Facebook Inc. paid nearly $1.5 million in August for nearly 20 acres north of its Altoona data center campus at 100 Share Way N.W., Polk County Recorder’s Office records show.

On Aug. 23, the company, doing business as Siculus Inc., bought 18.2 acres located on the southeast corner of Northeast 56th Street and Northeast 62nd Avenue for $984,960, records show. The land that had been owned by Melvin Quinn of Des Moines had been valued at $23,550, Polk County assessor’s records show.

On Aug. 12, Facebook paid $500,000 to Richard Moore of Ankeny for 0.89 acre at 5362 N.E. 62nd Ave. The parcel, which includes a ranch-style house, was valued at $191,500, assessor’s records show.

Facebook in April, paid $11.4 million for 210 acres on the north side of its current campus, located north of Interstate Highway 80 and west of Northeast 56th Street. The current campus is 190 acres.

The Altoona City Council this spring approved a development agreement with Facebook, which plans to invest $400 million on its fifth data center building in the northeast Polk County community. Facebook will receive a 100% property tax abatement for 20 years. In lieu of property taxes, the company will make an annual payment of $3 per square foot of new construction.

Facebook first announced its plans to build a data center in Altoona in 2013. Since then it’s spent more than $1 billion on development of the data center.