Laurene Powell Jobs buys 30 acres in East Palo Alto

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One of the largest parcels of vacant land in East Palo Alto is now under the ownership of a limited liability company associated with Laurene Powell Jobs, according to San Mateo County records.

The deed to the 29.4-acre site in the Ravenswood Business District was officially entered by the clerk recorder’s office on Aug. 1. The land stretches from the end of Demeter Street to near the Dumbarton Bridge.

Palo Alto-based Sycamore Real Estate Investment LLC began buying up East Palo Alto properties in 2015 and, with the latest acquisition, now owns about 46 acres.

That makes Sycamore among the city’s top three largest private landowners, East Palo Alto Assistant City Manager Sean Charpentier confirmed in an email. The city as a whole is 2.6 square miles, or 1,688 acres.

East Palo Alto city leaders seem unsure what Sycamore intends to do with the properties. Sycamore has expressed intentions to develop the properties in very general terms: “in a way that is consistent with the city’s general plan with the goal of maximizing community benefits, including jobs for East Palo Alto residents and revenue for the city,” city staff noted in a Jan. 20 City Council strategic priorities retreat report.

Sycamore expressed interest in initiating project-development planning processes starting in 2018, according to the staff report.

Charpentier said on Wednesday that Sycamore has not submitted any official plans. It has applied for limited tenant improvements for an existing building at 2555 Pulgas Ave. to add some office space.

Sycamore lists its officer as J. Brad Powell, according to the California Secretary of State’s business database. He is noted as managing director of investments for Emerson Collective, the social investment firm founded by Powell Jobs, its president. Powell oversees Emerson’s financial and investment activity, according to a profile by business media company Bloomberg.

An email to an Emerson Collective spokesperson requesting comment on the group’s intentions for the properties was not returned.

Powell Jobs, who also owns property in Woodside, has made an impact on East Palo Alto over the years. She co-founded College Track, which prepares underserved high school students for success in college, in 1997. The nonprofit organization started with 25 students in East Palo Alto and now has served 3,000 high school and college students across the country, according to its website. She remains chairwoman of its board of directors.

Emerson Collective focuses on initiatives related to education, helping new immigrants succeed and social justice.

Sycamore has acquired the following parcels: the 29.4 acres formerly owned by Facciola/Tarantino, plus an adjacent 0.02-acre property; four properties totaling 6.6 acres at 2555 Pulgas Ave. bought in 2017; 1.95 acres at 1985 Bay Road in 2017; 0.2 acres at 151 Tara Road in 2015; three parcels totaling 6 acres adjacent to 2555 Pulgas Ave. in 2015; and two plots at 264 Tara Road totaling about 2 acres, bought in 2015 and 2016.

Development plans throughout East Palo Alto were put on hold in July 2016 after the city ran out of a potable-water supply for new hookups. The city lifted the moratorium in July after acquiring 1.5 million gallons of Hetch Hetchy water per day through water-shares transfer agreements with Palo Alto and Mountain View.

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