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Rent, affordable homes, zoning, and decisions that shape where people can live.
The agreement becomes effective when the developer receives a certificate of occupancy or temporary certificate of occupancy from the City.
The Commission will recommend that the Planning Commission approve a below‑market‑rate housing agreement with Park South 624, LLC.
What's happening
Why it matters
It creates affordable housing units in Menlo Park, helping address the housing shortage and keeping rents lower for residents.
Who is affected
How to act
Attend: Attend the meeting in person at Arrillaga Recreation Center, Oak Room or join via Zoom (Meeting ID 865 4847 4804).
Email: Email the City Clerk at jaherren@menlopark.gov for comments.
Submit comment: Submit written comments by email to the City Clerk before the meeting.
Decision update
The item “Recommendation for below‑market‑rate 6‑unit housing at 624 University Dr” passed (4–0–3).
Decided Jun 3, 2026.
Developer proposes two BMR units: one low-income and one very low-income.
The presentation states that purchasers must sign a statement agreeing to occupy the BMR unit as their principal residence and not rent it, except as allowed.
The developer must build the project following the City’s Municipal Code and all applicable laws.
A cure of default made by the developer’s limited partner or senior mortgage lender counts as a cure by the developer.
Only households with gross incomes at or below the Low Income level for San Mateo County, adjusted for household size, may occupy BMR rental units.
Applicants must meet income eligibility limits to be placed on the BMR interest list.
The commission is reviewing the legacy list that gives priority to households previously on the ranked BMR purchase waitlist.
The commission is reviewing the governing law clause of the housing agreement.
When the seller notifies the City and the unit is deemed in good repair, the City sets the price for the BMR unit.
All household members must live together as their primary residence at the time of application.
The City or its designee obtains an appraisal to determine the market value of the unit.
Applicants must not have owned a home as a primary residence within the last three years.
The commission is reviewing price guidelines for on‑site BMR units and the bonus‑unit allowance.
The commission is reviewing the indemnification clause that requires the developer to defend and hold the city harmless.
Households with gross incomes at or below the Low Income level for San Mateo County can occupy Below Market Rate (BMR) rental units.
The City Council will set a rental in‑lieu fee tied to the cost of building a standard one‑bedroom unit.
BMR owners can refinance their debt but must contact the City's BMR program provider first.
The developer must comply with state labor standards, zoning, building, plumbing, mechanical, electrical codes, and the ADA.
BMR units must use design and materials comparable to other new units in the development.
The City sets the sales price based on original price, depreciation, and a portion of the Bay Area cost‑of‑living increase, using the lower of appraised value or computed price.
The City hires a realtor to manage the sale of the BMR unit.
Households must have gross income at or below 120% of the San Mateo County AMI, adjusted for household size.
