Palo Alto Office Park to 269 Homes? What Owners Should Know

Strada Investment Group has filed a revised application to redevelop 3350 West Bayshore Road in Palo Alto's Palo Verde neighborhood into 269 homes. The proposal includes 244 rental apartments in a seven-story building and 25 three-story townhomes to be sold as condominiums. The project is under review by the City of Palo Alto and has not been approved.

What is being proposed at 3350 West Bayshore Road?

According to reporting by Palo Alto Online (October 26, 2026) and SF YIMBY (October 27, 2026), San Francisco-based Strada Investment Group filed a revised application for the site, which sits in the Palo Verde neighborhood adjacent to U.S. Highway 101.

The 269-unit proposal breaks down this way: a seven-story building, approximately 88 feet tall, would contain 244 rental apartments. The apartment mix includes 60 studios, 112 one-bedrooms, and 72 two-bedrooms. Alongside that building, 25 three-story townhomes would be constructed and sold as condominiums. Each townhome would have four or five bedrooms, a two-car garage, and a private roof deck. The project also includes 289 underground parking spaces.

How many affordable homes are included?

Of the 269 proposed units, 14 would be deed-restricted affordable housing designated for very low-income households.

What is on the site today?

The site is 4.08 acres and is currently zoned for research, office, and limited manufacturing. A life sciences building of roughly 60,000 square feet sits on the property and would be demolished if the project moves forward.

Strada purchased the property from Alexandria Real Estate Equities in December 2025 for $29 million.

Why is the project seeking to exceed base zoning?

The site is zoned for research, office, and limited manufacturing. According to SF YIMBY, the applicant is seeking a streamlined approval process and more housing than base zoning allows by using SB 330, the Housing Crisis Act of 2019, and the State Density Bonus law. The application is under review; the city has not yet acted on it.

It is worth noting that an earlier version of the proposal, filed in May 2026, called for 286 units. The revised application reduced that to 269.

How does this fit into the broader housing shift on Palo Alto's east edge?

This project is one of several housing proposals on Palo Alto's east edge, an area Palo Alto Online describes as better known today for office parks, research labs, and nonprofit spaces.

Strada already received city approval earlier this year for a 145-townhome project at 2100 Geng Road. The city also received a separate 62-townhome proposal at 2225 East Bayshore Road earlier this year.

The 3350 West Bayshore site sits just north of Fabian Way and San Antonio Road, next to the 275-acre San Antonio Road Area Plan that the city is drafting to explore zoning changes, transportation improvements, parks, and retail on its southern border. The site itself is not inside the plan's footprint, but the developer says the project complements the city's vision for new housing in south Palo Alto.

What should nearby homeowners and buyers watch next?

A few things worth keeping in mind if you own or are shopping near Palo Verde and the West Bayshore corridor.

First, this remains an application. No approval has been granted, no construction timeline has been announced, and no townhome pricing has been shared. A lot can change between a revised application and a shovel in the ground.

Second, the questions readers raised in comments on the Palo Alto Online story, including parking pressure on Loma Verde, traffic, freeway noise, and the overall affordability of the project, are the kinds of issues that tend to surface in public hearings and can shape final project terms.

Third, for homeowners nearby, the honest answer to "what does this mean for my home?" is: it depends on your specific property, your street, your proximity, and what buyers in your price range are looking for. A broad assumption in either direction, that new supply automatically hurts or helps nearby values, misses too much nuance to be useful. A property-specific conversation is more valuable than a general forecast.

Buyers who are interested in the for-sale townhomes specifically should monitor the application's status with the City of Palo Alto. No sales process, pricing, or reservation structure has been announced.

Neighborhoods rarely change overnight. They change one application, one hearing, one moving truck at a time. If you live in south Palo Alto, this is a good moment to understand where your home stands before the conversation around you gets louder.

Frequently asked questions

What is being proposed at 3350 West Bayshore Road in Palo Alto?

A revised application proposes 269 homes: 244 rental apartments in a seven-story building and 25 three-story townhomes to be sold as condominiums. The existing life sciences building on the 4.08-acre site would be demolished if the project moves forward.

Has the project been approved?

No. As of the sources reviewed here, the project is an application under review by the City of Palo Alto. It has not been approved.

When will the townhomes be available and how much will they cost?

That has not been announced. Construction timeline, construction cost, and townhome pricing have not been shared publicly.

How many affordable units are included in the proposal?

14 of the 269 proposed units would be deed-restricted affordable for very low-income households.

Why are office and research sites on Palo Alto's east edge being proposed for housing?

This proposal is part of a broader pattern. Strada already received city approval for a 145-townhome project at 2100 Geng Road, and a separate 62-townhome proposal has been filed at 2225 East Bayshore Road. The City of Palo Alto is also drafting the 275-acre San Antonio Road Area Plan next door. At 3350 West Bayshore, the applicant is using SB 330 and the State Density Bonus law to seek more housing than base zoning allows.

What does this mean for homeowners near Palo Verde?

The honest answer depends on your specific property. New supply, location, and buyer demand all interact differently depending on the home. A property-specific valuation is more useful than a general assumption about what nearby development means for your value.

Sirrom Alizem, REALTOR
eXp Realty Nor Cal Inc | DRE #02137532
(650) 695-1919
sirrom@realtywithsirrom.com
www.realtywithsirrom.com

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