Developer Presidio Bay Ventures could be a good neighbor and provide a
substantial amount of low income housing as part of their USGS Development
and not just the required 15% BMR.
*I ask the Menlo Park City Council to work with Presidio Bay Ventures in
this matter.*
*Presidio Bay Ventures Background per Google AI:*
“There is no publicly available figure for the personal net worth of *Cyrus
Sanandaji*, the founder and managing principal of the San Francisco-based
real estate firm *Presidio Bay Ventures*.
While his individual wealth is not disclosed, the following details provide
context on the scale of his professional operations as of March 2026:
- *Portfolio Value*: Sanandaji leads a real estate portfolio valued at
approximately *$5.4 billion* to *$5.6 billion*.
- *Total Square Footage*: The firms portfolio spans roughly *5.8
million square feet* across 39 assets, including commercial,
mission-critical, and high-density housing projects.
- *Major Acquisitions*: Notable recent activity includes the *$137
million acquisition* of the former U.S. Geological Survey (USGS) campus
in Menlo Park for redevelopment into a large-scale residential and research
hub.
- *Company Background*: He founded Presidio Bay Ventures in *2012* after
working for the U.S. General Services Administration.”
“The U.S. Geological Survey (USGS) Menlo Park campus, located at 345
Middlefield Road, is a 17-acre property consisting of 17 buildings and
390,217 square feet of rentable space. The campus, owned by the General
Services Administration (GSA), includes the Vincent E. McKelvey Federal
Building, also known as Building 15, which is the newest and largest on the
campus. The property is being sold by the GSA after USGS announced its move
to Moffett Field.
The U.S. Geological Survey Menlo Park Campus is made up of *15 buildings
with a variety of identified building numbers*. The only building open to
the public is building 20. Vincent E. McKelvey Federal Building, the crown
jewel of buildings on campus, was built in 1996.Dec 27, 2024”
