Eric and Wendy Schmidt of Atherton plan to build a three-story, 25,000 square-foot office building in Menlo Park to serve as headquarters for their family office and philanthropic operations.
Plans for the building were approved by the Menlo Park Planning Commission in November 2015. The two-thirds-acre site at 1010 Alma St., near Ravenswood Avenue, includes the former location of Iberia restaurant.
"Eric and I are delighted to bring our philanthropic and family office employees together in one building in Menlo Park," Wendy Schmidt, president of the Schmidt Family Foundation, said in a press release.
Eric Schmidt, a former CEO of Google, is board chairman of Alphabet Inc., Google's parent company.
Among the operations to move into the new building are the Schmidt family's investment management company, Hillspire LLC; the Schmidt Family Foundation; and the Schmidt Ocean Institute, a nonprofit that supports oceanographic research and technology development.
The new building, with a two-level underground parking garage, is being designed by BAR Architects to meet LEED Platinum environmental standards, according to Lane Partners, a real estate investment firm in Menlo Park, which worked with the city to get the development approved.
During its review of the project, the Planning Commission struggled to determine what the applicant would be required to provide in public benefits. Ultimately, the parties agreed to a public plaza and coffee kiosk.
The coffee vendor has not yet been determined, but both Blue Bottle and Zombie Runner (based in Palo Alto) were approached about the opportunity, according to Marcus Gilmour of Lane Partners.
Other amenities that will be available to the public are bicycle racks along the Alma Street frontage and electrical vehicle charging stations, according to Sares Regis Group of Northern California, the development manager. Vance Brown is general contractor and Brayton Hughes Design Studios is the interior designer.
Construction is expected to start this summer.
Green features intended to meet Net Zero energy goals and very low water use include roof-mounted photovoltaic cells, ultra-low flow water fixtures, and a heat-recovering system that uses no natural gas for heating and consumes no water for cooling, the Sares Regis Group said.
Editor's Note: A previous version of the story said the building was planned to be meet LEED Gold certification standards. It is now planned to reach LEED Platinum, a higher category of standards for green building, said Sares Regis Group.