It really depends, but usually more info is better. Players like a lot of setting information because it helps ease the feeling that they're doing something wrong if they have to invent a place.
I found the best way to make the setting info less daunting was to do a lot with images. I once mapped out the entire Xavier School with room photos on the map. It made it so the players had the same room to describe if they needed fodder for a thread starter.
Giving them info also helps assure that they don't assume things that will go against your plan.
Keep the info concise and use some of those magic tools to break up info. Bold key bits, divide it up under headers, add photos, etc. Keep large chunks of text in a medium-sized sans-serif font with a narrow paragraph, etc.
Here is what I would at least give--
[x] A basic layout of the place [x] Names of a variety of shops/clubs/etc [x] Any major rules of what is off-limits, etc.