Mega Project To Add More Offices Than Homes
Source: padailypost.com | Re-Post MNM Partners, LLC 3/1/2018 –
A new project proposed to take up five blocks along Main Street and El Camino in Redwood City would result in substantially more jobs than homes, worsening San Mateo County’s housing-jobs imbalance.
The 1601 El Camino Real project will consume five blocks that include Acura and Ford dealerships between El Camino and the train tracks. It would also replace the Redwood Roller Rink.
Greystar Real Estate wants to build four office buildings totaling 589,700 square feet. Another building at the corner of El Camino and Maple Street will have 272 apartments.
Based on the assumption of one worker for every 200 square feet of office space, the development would accommodate 2,948 employees. And assuming an average of two people would live in each of the 272 apartments, 544 people would be living in the project. The number of people housed by the project would represent 18% of the jobs the development would bring.