Editor:
“If [the developer] can’t build at 18.5 units per acre, as far as I’m concerned, the developer paid too much for the land,” said resident Morris Brown at the recent Menlo Park City Council study session on 389 El Camino Real.
The community might like to see the numbers to back up that statement. We’re all aware of the value of Menlo Park land, which is extremely high. There are other costs, like construction, labor, and borrowing of money that also must be factored into the cost and profit of a development.
Right now, all of those costs are substantially higher than when our current density zoning of 18.5 units per acre was set. Unless the development is not-for-profit, it’s hard to imagine what developer (or business) would build for less than profit.
So we should ask: At what density can a development be built that will both be acceptable to the community and return enough of a profit to create a well designed and constructed project?
Perhaps some of our knowledgeable residents can respond with real numbers so that we can have a fact-based discussion on appropriate density levels for the El Camino corridor.
Elizabeth Lasensky
Fremont Street, Menlo Park
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