WELCOME TO WELLESLEY HOUSING
The median home price in Santa Clara County is now $1,380,000 (1), though in Palo Alto it is 118% higher at $3M. With apartment rentals just below $3K, fixed income seniors, long-time renters, teachers, firefighters and local service workers can no longer afford to live here.
According to the State's Regional Housing Needs Allocation (RHNA), our city must demonstrate that it's ability to provide housing opportunities to adequately meet its housing needs for all income levels (2). Palo Alto must zone for 6,000 new homes to meet our regional housing needs. In the last cycle we met just 37% of our goal, further exasperating the high cost of housing and leaving our lowest income community members without options.
To address the crisis, the Palo Alto City Council has passed the Planned Housing Zone Ordinance (PHZ) to promote more housing and affordable housing in Palo Alto.
We are responding to the diverse needs of the Palo Alto community, proposing to build needed Missing Middle housing in a great neighborhood, located on a block with multi-family apartment buildings.This compact apartment building would help Palo Alto meet the state housing mandates, which protects local control and community benefits. Compliant with the City of Palo Alto's Planned Housing Zone, the Wellesley Project is a 24-unit Missing Middle apartment building, targeting residents making between 80-90% of Area Median Income (AMI) with 20% of the homes designated for Affordable Housing.
The Wellesley Project aims to provide a solution to the housing crisis by adding affordable housing which rebalances inequities for a long term gain of creating a neighborhood that is inclusive. The project will blend into the existing community as it is surrounded by multi-family housing and its height only reaches two feet above the established single-family maximum. Located walking distance from job centers and high-quality transit, this is the ideal location to provide housing for the Missing Middle and is a bold solution for our local community.