Palo Alto townhouse project gets big boost from real estate deal HEAD TOPICS

Palo Alto townhouse project gets big boost from real estate deal

10/21/2022 5:28:00 PM

Palo Alto townhouse project gets big boost from real estate deal

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Mercury News

Palo Alto townhouse project gets big boost from real estate deal A Palo Alto townhouse project that would replace an office building with dozens of residences is pushing forward now that the developer has bought the site it needs to construct the project. The proposed project consists of 48 townhomes that would be developed on a 2.4-acre site on West Bayshore.At present, a one-story office building occupies the property, a survey of the site shows.The SummerHill Homes affiliate also obtained $45 million in financing from Comerica Bank at the time of the property purchase, the county property files show. Read more:
Mercury News » Affordable Housing for Teachers in Palo Alto, Los Gatos East Palo Alto to vote on tax for landlords to fund affordable housing KKR Takes Minority Stake in SkinSpirit Why Are Bay Area Home Sale Prices Still Falling?

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Sterling rallied on Thursday and investors reined in their bets on a big Bank of England interest rate hike in November as UK Prime Minister Liz Truss announced her resignation just six weeks after she was appointed. Read more >> Affordable Housing for Teachers in Palo Alto, Los GatosThe city of Los Gatos built affordable housing for teachers and the city of Palo Alto will soon follow suit. HowardKushlan The main things pumping the RE prices are awkward zoning rules which prohibit new development. There’s a ton of SFHs that could be rebuilt & many half-abandoned spots to the East of El Camino. But NIMBYs are OK with less supply because their huts get pumped 😜 East Palo Alto to vote on tax for landlords to fund affordable housingA ballot measure goes before East Palo Alto this November that would place a 2.5% tax on rental residential properties in an effort to fund affordable housing development and, if necessary, provide rental assistance to help residents avoid homelessness. Another scam. None of this help with “affordable housing” it’s all a scam This will literally drive up housing costs and make the problem worse. Get the govt out! EPA with its culture of corruption needs more money to mismanage KKR Takes Minority Stake in SkinSpiritThe Palo Alto, California-based beauty services provider will use the infusion to expand its footprint. Why Are Bay Area Home Sale Prices Still Falling?The Bay Area's dependence on the tech industry and adjustments to work during the pandemic are having a unique effect on home sale prices in the region. Palo Altos Code Art Festival is calling for submissions and anyone can apply - KCBS Radio: On-DemandThe City of Palo Alto’s Public Art Program is looking for artists for next year’s Code Art Interactive Media Arts Festival. As KCBS Radio's David Welch reports, if you’ve ever wanted to try your hand at public art you may want to listen up because anyone can apply. SummerHill Homes, acting through an affiliate, has bought a property at 2850 W.Outdoor Clothing Company Closes SF Store Amid Recent Crime In Los Gatos, four new units for teachers have just been built on town-owned land.The Measure L tax increase would apply to residential property owners and could not legally be passed on to tenants via increased rent or a surcharge, according to city officials.They Are Wearing: Paris Fashion Week Spring 2023 Heublein credited that emphasis on quality of experience as a key differentiator, in addition to its service offering. Bayshore Road in Palo Alto, paying $82.5 million for the site, according to documents filed on Oct. “These apartments are well below market rate and the teachers can live here seven years to save up a down payment to become home owners so when they move out a new group moves in,” said Sarah Chaffin of the organization Support Teacher Housing . 20 with the Santa Clara County Recorder’s Office. Measure L, in addition to raising the tax rate, would remove the exemption for property owners with fewer than five rental units. The proposed project consists of 48 townhomes that would be developed on a 2. The hope is these teacher housing projects will serve as a model for other Bay Area communities.4-acre site on West Bayshore. “Aesthetics really benefited after the dust settled in 2021, and the aesthetics category had one of the biggest growth years on the record in 2021,” she said. At present, a one-story office building occupies the property, a survey of the site shows. Measure L will require a simple majority to be adopted. The SummerHill Homes affiliate also obtained $45 million in financing from Comerica Bank at the time of the property purchase, the county property files show. Related Articles .