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Financing keeps Bohannon hotel on drawing board

Original post made on Dec 9, 2011

When the Menlo Park Planning Commission sat down for its annual review of the Bohannon Menlo Gateway project Dec. 5, there were no surprises, but maybe some disappointment from those tracking the development.

Read the full story here Web Link posted Friday, December 9, 2011, 11:54 AM

Comments (9)

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Posted by frugal
a resident of Menlo Park: Central Menlo Park
on Dec 9, 2011 at 12:11 pm

No surprise there. This was part of the Bohannan plan to tie up development rights for many many years. Let's hope that the EIR for Facebook includes the traffic from Bohannan, Stanford Hospital AND A MUCH EXPANDED DOWNTOWN.

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Posted by patience
a resident of Menlo Park: Allied Arts/Stanford Park
on Dec 9, 2011 at 3:58 pm

And the financial study for Facebook should not double count the revenue already counted by the Bohannon project, such as hotel revenue. The city doesn't get the hotel tax twice. The visitors won't eat more than once per meal.

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Posted by w patterson
a resident of Menlo Park: Sharon Heights
on Dec 10, 2011 at 7:59 am

Thanks to the Planning Commission for a common sense decision. We can hope for the success of the project and the City of Menlo Park.
It would be nice to allow the office buildings to proceed. Great jobs near Menlo Park. Reconsider allowing the office buildings to proceed.

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Posted by Menlo Voter
a resident of Menlo Park: other
on Dec 10, 2011 at 9:05 am

Absolutely not! No hotel, no office buildings. It's bad enough this development does little or nothing to pay for the impacts of the new office space. Allowing the hotel to not be built first will make that even worse.

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Posted by follow the money
a resident of Menlo Park: Central Menlo Park
on Dec 10, 2011 at 1:45 pm

Who didn't see this coming? The hotel was the carrot; we all knew that Bohannon would try to wiggle out of it as soon as the project was approved. (Check out the threads from a year ago.)

Additional office space does not produce additional revenues for our city. The city will get a tiny percentage of the property tax, but property taxes don't rise with costs. So in a few years, without the hotel, Bohannon's project stands to be a major drain on city finances.

Thanks to the planning commission (and, I hope, the council) for not letting someone evade his responsibilities just because he's rich and loud.

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Posted by long time resident.
a resident of Menlo Park: Downtown
on Dec 10, 2011 at 6:18 pm

If Bohannon has made a good effort to bring in the hotel and he can't due to slump in the industry, he should be allowed to build the office buildings. The hotel recesssion is worse than most other sectors through no fault of Bohannon's. He can build the hotel when later.

Look at El Camino Real if you want to see the consequences of Menlo Voter's and Follow the Money's views.

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Posted by Follow the money
a resident of Menlo Park: Central Menlo Park
on Dec 10, 2011 at 6:41 pm

El Camino 101:

* Most of the vacant ECR properties belong to Stanford, who is still receiving rent from the car manufacturers. They are hoping that the ECR plan gives them windfall development rights. Meanwhile, they have no incentive to do a thing.

* Most of the other underdeveloped ECR properties belong to owners who have projects approved and are waiting for the economy to pick up.

This is not the case with Gateway. When Bohannon asked for approval last year, he knew what the deal was with the economy. Moreover, a year ago we didn't have Facebook, a company that is now asserting that they need more hotel space to accommodate their visitors. (They don't want to send visitors to ECR -- they want them to stay over in the office park area.)

Bohannon's act is a total sham. I can only think that anyone who falls for it must be a relative or member of his empire.

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Posted by Menlo Voter
a resident of Menlo Park: other
on Dec 10, 2011 at 8:50 pm

There are approved development projects on ECR. They aren't being built because of the economy. Bohannon knew what the economic conditions were and hence asked not to have to develop the property for many years. He agreed to put a hotel in as condition precedent to developing the office space. This was agreed to as the only [part deleted] monies the city would recieve to offset the costs associated with his huge development of office space (read NO sales tax revenue).

Bohannon needs to abide by the conditions of this agreement. [part deleted.] He can actually put forward a proposal that actually provides funds toward the cost impacts his development causes.

I'm not shocked Bohannon is pulling this [deleted]. It's par for the course for him. [deleted]

He needs to abide by the agreement. If he can't put in a hotel, he can just wait until he can. That was the deal.

If he wants to renegotiate, fine, he needs to cough up the actual costs associated with his office complex. [deleted] I'm sick and tired of developers like Bohannon thinking they can write their own rules.

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Posted by Menlo Voter
a resident of Menlo Park: other
on Dec 11, 2011 at 9:00 am

Menlo Voter is a registered user.


so the word "crap" is not allowed on this forum? You guys are unbelievable.

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