Tom Li is a Bay Area News Group regional news reporting intern for The Mercury News and East Bay Times. Raised in Pleasanton, Tom is currently a student at Brown University studying economics and international and public affairs.
Greystar’s original renderings for the Vasara development featured a 335-unit multifamily building next to a 35,000-square-foot building with office and commercial uses. Now, Greystar is applying to build a 140-unit apartment building in place of the office. At 104 Constitution Drive, less than 2 miles from Meta’s headquarters, the 92-foot-tall building would have eight stories and include 151,000 square feet of residential space.
Greystar submitted the project proposal earlier this year under the “builder’s remedy,” a strategy that has gained traction among developers. The provision allows developers to seek streamlined approvals of projects of virtually any size — so long as 20% of the units are deemed affordable — in cities without a state-certified housing plan, also known as a housing element. The stateTenants in San Mateo County qualify for affordable housing if their income falls at or under 80% of the county’s area median income .
More than 360 of California’s 539 local jurisdictions hold state-certified housing elements, according to data from the state’s Department of Housing and Community Development . Slightly more than 30% of the jurisdictions do not have state approval and may have to comply with builder’s remedy proposals.
Menlo Park is one of 11 jurisdictions with state-approved housing elements in San Mateo County. Five others remain under review, while HCD found housing elements in four jurisdictions noncompliant.For two-bedroom apartments in Menlo Park, median monthly rent has grown to $4,033, according to Zillow. The city received the final project proposal in early June and deemed the application incomplete in July as a result of missing application items.
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