Sand Hill Property Company is teeing up a residential remake of a large swath of East Palo Alto with apartments and townhomes.
Woodland Park Communities, an affiliate of Palo Alto-based Sand Hill, submitted pre-applications for two projects slated to bring nearly 800 residences to East Palo Alto, the Silicon Valley Business Journal reported.
The projects, dubbed O’Keefe-Manhattan and West Bayshore-Newell Improvements, would reshape parts of the Woodland Park neighborhood north of University Avenue, along West Bayshore Avenue and Newell Road. The goals are threefold: renovating existing apartments at the site, constructing new for-sale townhomes and developing new apartment buildings.
For the West Bayshore-Newell improvements, Woodland Park Communities is proposing to renovate 315 units across eight apartment buildings and add two new apartment buildings with 253 units and 60 for-sale townhomes. At the nearby O’Keefe-Manhattan site, Woodland Park would renovate another 221 units and add four apartment buildings with 392 mixed-income rentals plus 114 townhomes.
The infill development would rise on vacant parcels, parking lots and lower-density sites, Michael Kramer, chief investment officer of Woodland Park Communities, told the Business Journal. The firm does not plan to displace current tenants and is promising residents replacement rent-controlled units at the same stabilized rates. Existing rent-stabilized apartments would be replaced one-for-one, according to the developer.
Woodland Park has owned the properties since 2016 and has spent the decade since then conducting resident and community meetings as it shaped its proposal, Kramer said. The firm has not disclosed a cost estimate for the new projects, though Kramer said the developments would rely on a combination of debt and equity financing. Formal applications are expected this summer, with construction likely to roll out in phases over multiple years.
At the same time, Woodland Park Communities is moving forward with another project nearby, known as the Euclid Improvements plan. The proposal won approvals in 2024 and will bring 550 apartments to the area. Demolition and site work are already underway there, with major construction expected to begin later this year and wrap up within three years.— Chris Malone Méndez
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