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A Texas developer has submitted plans for a housing project with nearly 200 apartments in an area of Menlo Park dominated by the corporate offices of Meta and Snowflake.
Dallas-based real estate firm Beam Reach has submitted plans to redevelop 155 Jefferson Drive, a 1.4-acre site in the Bayfront area of the city, into an eight-story multifamily building. The proposal was filed with the city on Jan. 16 and calls for replacing a single-story research and development building with a mix of 199 new apartments.
Beam Reach purchased the property in March 2025 for $11 million, according to commercial real estate platform Traded.
“We’re always targeting locations that we believe need housing,” said Beam Reach co-founder Sam Rabb. “In Menlo Park, you’re in that corridor with a lot of new office supply that’s come online and a lot of new employees but, like much of the Bay Area, it’s short-housed.”
The plans include 57 studio units, 110 one-bedroom units, and 32 two-bedroom units. Of the 199 units, 20 will be reserved for very low-income families earning 30% to 50% of the area median income (roughly $70,000–$80,000 annually for a family of four), and nine will be set aside for low-income families earning 50% to 80% of the median income, or up to $109,700 per year.
Menlo Park’s inclusionary housing rules require 15% of units in large projects to be priced below market rate. Beam Reach said it plans to meet this requirement, except for a small fraction of a unit, for which it will pay an in-lieu fee.
The project lies near Lume, a mixed-use development by Greystar featuring 441 completed rental units and 42 for-sale townhomes still awaiting construction. Like Beam Reach’s proposal, 15% of Lume’s housing is set aside as below-market-rate units.
Beam Reach is proposing building 200 vehicle parking spaces and 330 bicycle spaces in the first three floors of the structure. The plans include around 7,000 square feet of publicly accessible open space and 11,397 square feet of private and shared open space.
Rabb said Beam Reach only recently received the city’s initial feedback on the proposal and does not have a specific timeline in mind for when construction could begin. After Menlo Park deems the proposal complete, the project would be subject to environmental review, permitting and architectural review, according to the city.
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