Council members: Palo Alto is making a mistake: Learn from their mistake.
Alta Housing, in Palo Alto, wants to build housing on a downtown parking lot AND is ONLY providing 34 parking spaces for 72 "Large Apartments". Good luck selling that to prospective tenants.
Big Mistake.
My real estate experience:
Every tenant asks:
"Where is my designated parking spot?"
Do not build housing on Menlo Parks parking lots.
Remember: Lack of enough parking is why the San Jose Apartment complex recently went into foreclosure.
Thank you.
Michael DeMoss, Commercial Real Estate Attorney
Sent from my iPhone
