Steve Jobs had a vision for Apple Inc. (NASDAQ: AAPL) as a company in which innovation flowed freely and employees were inspired to help create and shape the future. Jobs passed in 2011, but his vision is about to become more alive than ever. Apple announced that its new 175-acre campus, Apple Park, will be open for employees at the beginning of April.
This tech giant is looking to transform “miles of asphalt sprawl into a haven of green space in the heart of the Santa Clara Valley.” Jobs took inspiration from the California landscape, through its light and expanse. This new campus is looking to capture his spirit.
Serving Jobs’s memory, the theater in Apple Park will be named the Steve Jobs Theater. The entrance to the 1,000-seat auditorium is a 20-foot-tall glass cylinder, 165 feet in diameter, supporting a metallic carbon-fiber roof. The Steve Jobs Theater is situated atop a hill — one of the highest points within Apple Park — overlooking meadows and the main building.
Apple Park also will include a visitors center with an Apple Store and cafe open to the public, a 100,000-square-foot fitness center for Apple employees, secure research and development facilities and the Steve Jobs Theater. The parklands offer two miles of walking and running paths for employees, plus an orchard, meadow and pond within the ring’s interior grounds.
The campus is powered by 100% renewable energy. With 17 megawatts of rooftop solar, Apple Park will run one of the largest on-site solar energy installations in the world. It is also the site of the world’s largest naturally ventilated building, projected to require no heating or air conditioning for nine months of the year.
Tim Cook, CEO of Apple, commented:
Steve’s vision for Apple stretched far beyond his time with us. He intended Apple Park to be the home of innovation for generations to come. The workspaces and parklands are designed to inspire our team as well as benefit the environment. We’ve achieved one of the most energy efficient buildings in the world and the campus will run entirely on renewable energy.
Shares of Apple were trading at $136.50 early Wednesday, with a consensus analyst price target of $139.82 and a 52-week trading range of $89.47 to $136.75.