Related, Stanford Debut Affordable Community in Bay Area
- Jul 05, 2017
Developer Related California and Stanford University have celebrated the grand opening of Mayfield Place, a new affordable community in Palo Alto, Calif. Segue Construction Inc. started construction on the $35 million project designed by David Baker Architects in 2015.
Located at 2500 El Camino Real, on a 1.8-acre site in the Stanford Research Park, the 70-unit property features one- to three-bedroom apartments ranging from 650 square feet to 1,200 square feet. Priced from $1,000 to $1,700, the asset targets residents earning between 50 and 60 percent of the area median income. Property amenities include covered parking, a fitness center, picnic area with barbecue, community room with kitchen, laundry room and bike storage rooms on every floor.
The community is one mile from Stanford University, about two miles from downtown Palo Alto, highways 101 and 280 and minutes from shops, Caltrain and local VTA transit. The property is about four miles south of another affordable Palo Alto property, Woodland Park.
The project was shaped in 2005 when an agreement was reached between the city of Palo Alto and Stanford University whereby the university would establish the Stanford/Palo Alto Community Playing Fields, 180 homes for Stanford faculty on California Avenue, and the Mayfield Place development, according to Mercury News. Mayfield Place also houses 7,000 square feet of retail and the former tenant of the commercial building on the initial site, the Vista Center for the Blind and Visually Impaired.
Image courtesy of Mayfield Place