Zuckerberg making few "friends" in new neighborhood

Some people living in a trendy section of San Francisco are complaining about their new neighbor: Facebook founder Mark Zuckerberg.

He's behind what they're calling "endless construction headaches," thanks to his new, $10 million "fixer upper."

CBS News correspondent Teri Okita went to the Dolores Heights section of the city, where Zuckerberg is finding a "less" than social welcome.

The hassles started when Zuckerberg purchased the 1920's-era home with designs on making it bigger and better.

He and his wife have been sinking millions of dollars into renovations of the home they bought a year-and-a-half ago, along a leafy street. But the lengthy remodeling project is hogging precious parking spots and aggravating nearby homeowners.

Giovanni Corbelletta and Debra Malta live eight houses away and spoke with CBS News.

What are some of the problems they've been experiencing?

"Well, a lot of the problems have been traffic congestion, a lot of noise, numerous dump trucks, cement mixers, you name it, all shapes and sizes. That start early in the morning," Corbelletta said.

"The digging has been so extensive, it almost sounds and feels like a mini-earthquake. On a daily occurrence," Malta remarked.

Once a working class neighborhood, Dolores Heights -- now nicknamed "Facebook Hill" -- is morphing into a luxury area with young, hipster techies buying up properties few others can afford.

"I think the Zuckerberg factor just kind of brings it all home," realtor Mary Macpherson said. "They see a lot of young people with silly amounts of money that are driving up the costs of living in San Francisco and they can't afford a home anymore. So, seeing the disruption to the street is just a manifestation of everything they worried about."

Macpherson points out the short-term pain may be worth the long-term gain, if property values go up.

"The bar will be set higher and the people who actually own their homes will see a profit down the road; then they will benefit from it," Macpherson said.

The Zuckerberg remodel is just one of half a dozen construction projects underway on the hill.

Neighbors have been told it will take months, not years, for his renovations to be complete.

CBS News reached out to Facebook for comment, but the company had nothing to say.