Housing

Menlo Park — with a 10.5% increase in assessed property value — edged out Foster City (10.2%) to lead the list of San Mateo County cities.

“It’s hard to celebrate tax assessment increases. But the flip side is that they are a reflection of the desirability of our community and the value people find in living and working in this special place,” said Menlo Park Mayor Ray Mueller.  “And we at City Hall plan to keep working hard to preserve all the things we love about Menlo Park, that make it such a desirable place to live.”

The Property Assessment Roll is the assessed value of all properties as of January 1 each year, and reflects changes in ownership, new construction, value declines, and value restorations from the previous January 1. The Property Assessment Roll is composed of two sections, the Secured Roll and the Unsecured Roll. When combined, the two sections are referred to as the Combined Roll.

“2018 marked another year of roll growth for San Mateo County,” said San Mateo County Assessor Mark Church.” The combined assessment roll has increased by $97 billion from nine years ago. This is the ninth consecutive year in which a new historical high has been set.”

Commercial and mixed-use construction were major contributors to the 2019-20 Roll growth. Major projects in the county, consisting of 80,000 square feet or more, accounted for more than 3 million square feet of new development coming to market in 2018.

Menlo Park with 10.4 million square feet of development is second only to Redwood City (13.6 million square feet) in new commercial development in the county.

In all, 55 million square feet of new construction are expected to be completed in the county over the next six to eight years. A total of 21 million square feet are under construction, 7 million square feet have planning approval, and 27 million square feet are under review. Approximately 8.6 million square feet of new construction have been completed in the last four years.

Sales and changes in ownership totaled $7.8 billion, or about 50% of this year’s Secured Roll increase. Residential sales accounted for about 75% of that dollar growth while commercial sales accounted for 25%.

Photos: (top) Menlo Gateway is a commercial development near 101 and Marsh Rd. undertaken by the Bohannon Company; (second) House on Bay Laurel that recently sold for $6.675,000

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Menlo Park City Council to review request for citywide development moratorium

The City of Menlo Park announced Mayor Ray Mueller’s June 5, 2019, receipt of a written agenda request from Mayor Pro Tem Cecilia Taylor and Councilmember Betsy Nash, for the consideration a citywide development moratorium. The moratorium specifically would cover all new non-residential construction (including hotels) and any increased floor area ratio (FAR) for existing […]

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Housing Leadership Council of San Mateo County invites youth to enter contest on area housing crisis

The Housing Leadership Council of San Mateo County invites youth to create a narrative essay or visual art piece based on personal opinion or experience that explores the housing crisis in the San Francisco Bay Area. Writing submissions should be less than 2,500 words. Art submissions should be in .jpg or .png format and include […]

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HEART first-time home buyer workshop set for Thursday, March 7

Find out how you can qualify to buy a home in San Mateo County with only a 5% downpayment and no private mortgage insurance on Thursday, March 7, from 6:00 to 7:00 pm at the Menlo Park City Council Chambers (701 Laurel St.). Learn about: – How the HEART downpayment loan program works – The home […]

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Car dealerships gone – work on multi-use development set to begin

Stanford University is completing building demolition activities at their mixed-use project site located at 300-500 El Camino Real. When built, the 8.4 acre development will include three non-medical office buildings, 215 rental apartments and a large public plaza with a 10,000 sq. ft. cafe/retail facility. Stanford is scheduled to begin grading and utility work this fall […]

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Facebook’s Catalyst Housing Fund gets $1 million investment from San Francisco Foundation

Elliot Schrage, Facebook’s VP Corporate Communications & Public Policy, announced today that The San Francisco Foundation is contributing $1 million to the Catalyst Housing Fund. “Though the [Silicon Valley] region is thriving in many ways, our community clearly needs more affordable places to live,” he said in a press release. “That’s why we’re working alongside […]

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Spotted: Last part of modular house being put in place

We’ve watched as a huge whole was dug on Lemon Street near Oak Avenue, and then a wooden framework put in place. Another big basement we figured. And indeed that may be the case. But there’s no waiting for the house to be built. It descended from above today in four pieces. We caught the […]

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Community meeting on MidPen Housing project set for Dec. 6

Mayor Kirsten Keith and MidPen Housing are hosting a community meeting Wednesday, Dec. 6, 2017, to solicit community input on MidPen’s 1283 Willow Road and 335 Pierce Street properties. The meeting will be held at the Menlo Park Senior Center located at 110 Terminal Avenue. The City is conducting extensive outreach to ensure that residents […]

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Menlo Park Mayor Kirsten Keith hosts discussion on housing challenges on Nov. 13

Menlo Park Mayor Kirsten Keith is hosting an “On the Table” conversation about Silicon Valley housing challenges on Monday, November 13, 2017 at the Arrillaga Recreation Center, Oak Room at 6:00 pm. “On the Table” aims to increase civic participation, foster new relationships and inspire action through small group conversations over a meal, coffee or […]

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Facebook announces next step in funding and building affordable housing in neighboring communities

Building upon a community partnership announced last December called “Envision Transform Build” along with the cities of Menlo Park and East Palo Alto to create regional solutions to the affordable housing crisis, today Facebook announced that the Local Initiatives Support Corporation (LISC) will manage the Catalyst Housing fund in collaboration with Housing Trust Silicon Valley and possibly other local […]

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The building of a Menlo Park family’s mini retreat featured on Tiny House Nation

Fellow Menlo Park residents can spot familiar faces this weekend when CJ and Christina and children JJ and baby Max are featured on Tiny House Nation. The show airs on FYI (772 on Comcast Bay Area) Saturday, June 24 at 6:00 pm PDT. [Note: It is the show’s policy not to use participants’ last names.] CJ is an attorney […]

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