While Amazon is scouting locations for its second headquarters, and Apple opened its new $5 billion campus in April, Microsoft is taking a different approach. The software company is planning to revamp its existing Redmond, Washington, campus to create enough space for a potential 17 percent expansion of the area's work force.

The company announced Tuesday that it will start the project next fall, and expects to finish in five to seven years. The revamp, which will be the largest renovation of the 500-acre grounds in more than a decade, will include 18 new buildings and 6.7 million square feet of renovated workspace in the 12 existing structures. It will accommodate a maximum of 55,000 people, which is 8,000 more than the current number of employees on campus.

However, Microsoft didn't disclose how much the renovations would cost. Bloomberg reported that the project could run into the billions of dollars, and, in comparison, Amazon's plan for a second headquarters is expected to cost more than $5 billion.

"It's an investment that's good for our employees, good for the Puget Sound community, and makes good sense for our shareholders," Microsoft president Brad Smith said in a statement. "We are not only creating a world-class work environment to help retain and attract the best and brightest global talent, but also building a campus that our neighbors can enjoy, and that we can build in a fiscally smart way with low environmental impact."

Published on: Nov 29, 2017