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REALTOR®: Menlo Park improvements, expansion of Facebook is good news for housing

Wednesday, August 24, 2011

Speaking at the Silicon Valley Association of REALTORS® Menlo Park/Atherton District meeting on Tuesday, Menlo Park development services manager Justin Murphy said there has been much activity in the city during the past year. He noted over the last four quarters permit activity, particularly with regard to tenant improvements, has increased. While there are vacancies downtown, there has also been much activity, including new stores like Subway and the expansion of Ace Hardware.

There have been no changes to residential development requirements over the last five years, but the new CalGreen requirements for new homes which went into effect in January are issues to keep in mind. Murphy said the city is offering residents energy upgrade incentives, such as $125 washing machine rebates, $150 toilet rebates, free low flow shower heads and aerators. Residents can also request a home energy analysis. He indicated cost of energy upgrades could mean a few hundred dollars, but the savings would pay off in the long run.

Murphy informed REALTORS® that the city has updated its disaster preparedness emergency plan, incorporating lessons learned from the San Bruno gas explosion. There is now increased coordination with Menlo Park and the Fire Department and the city is also looking at increasing community involvement.

Murphy lauded the new recreational facilities at the Civic Center, crediting John Arrillaga for his contributions to a new gymnasium and recreation center.  He said the city is also closely watching the Stanford Medical Center Project. The City of Palo Alto has approved the large scale multi-year project, which will cause significant construction impact on the city, but will provide residents with long-term rewards. The US 101 Auxiliary Lane Project along Marsh Road and University Avenue is another project in the works designed to a bicycle and pedestrian overcrossing.

The city development services manager said the major decisions involving the downtown vision plan will take place at the Aug. 30 Menlo City Council meeting, at which time council members will weigh in on changes to the draft plan. "It is important to have an agreement from the community's perspective," said Murphy.

Of significant interest to housing, is Facebook's planned move and expansion at the former Sun Microsystems campus. Murphy indicated Facebook plans to increase the number of employees on its east campus from 3,600 to 6,600 and expand its west campus, as well, based on projections of future growth. Currently Facebook has 2,000 employees globally, and 1,400 locally.

"It will be a good thing for housing," Murphy told the REALTORS®.


The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.

The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.

Variations of this article have appeared in local area newspapers.

For further information, please contact Rose Meily at SILVAR Public Affairs, email , or phone (408) 200-0109.

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