Palo Alto is growing fast, but with this good news comes changes and new challenges for the city, Palo Alto's mayor recently told Silicon Valley REALTORS®.
Palo Alto Mayor Yiaway Yeh is the second youngest mayor in Palo Alto's history and first Chinese American to hold office. He told members of the Silicon Valley Association of REALTORS® at a meeting in Palo Alto early this month that there has been an increased demand for all types of real estate in the city. Vacancy rates are well below 5 percent, said Yeh.
The demand for housing creates challenges for the city in terms of supportive infrastructure and additional services, said Yeh. It also creates challenges for the school district. New housing impacts neighborhood schools and the school district has requested that it be in the loop on future building plans.
Yeh identified two demographic shifts that have occurred as a result of growth. First, 17 percent of residents are age 65 and older. Yeh said more people are choosing to retire in the area and they will need support programs and services for seniors. The second shift is towards a more diversified population - 30 percent of the residents have identified themselves as Asian or Asian-American.
Yeh said many residents appear to be focusing much of their energy on their profession, but they also need to focus on their neighbors and community. Reliance on each other is important, whatever culture you are from, especially during a disaster, said Yeh.
To this end Yeh has championed a number of projects, like a series of "Mayor's Challenge" athletic competitions in ping pong, bocce ball, bicycling to bring neighbors closer together. These events have been well-received, he said, but they are one-day events. Close relationships among neighbors need to be lasting, he said. So Yeh said the city is moving ahead with a $25,000 Neighborhood Grants Program that would fund projects aimed at fostering stronger relationships among neighbors.
Yeh spoke of different residential and commercial projects in the works in California Avenue and off Page Mill. He said he is open to new and "funky" ideas on housing, like housing pods, smaller living quarters that are about 200-300 square feet in size suited to the needs of young professionals, much like what they have in New York City.
"We want to get the best ideas out there. We have to be proactive in recognizing these demographic shifts and bringing people together because ultimately, infrastructure is for the people we support," said Yeh.
The mayor also addressed the high student suicide rate and homelessness. He said it ultimately comes back to building closer relationships with one another. "The youth want to be valued by the community," said Yeh.
To address the issue of people staying overnight in vans and RVs, Yeh said the city plans to embark on a pilot plan to engage religious congregations to offer their parking lots to these vehicles overnight. So far, two congregations have stepped up and offered their space. This plan will go before to the city council in November.
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.
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