An article in Friday’s Palo Alto Weekly describes a new apartment building proposed for the corner of Wellesley and College Avenue in College Terrace. The project by San Francisco-based Cato Investments would house 24 units in a three-story apartment building on two side-by-side lots at 2239 and 2241 Wellesley St. Today, both lots contain single-family homes.
The developer is applying under Palo Alto’s Planned Home Zoning (PHZ) designation, which allows developers providing affordable housing to request exceptions to development standards. Eligible developments must offer at least 20% of the project to below-market-rate units. The project would also require exemptions for parking, height, and setback requirements.
A project website – WellesleyHousing.com – lays out the developer’s vision to provide missing middle housing in a walkable neighborhood close to public transit, in a part of College Terrace that already contains multi-family housing. The developers plan to hold a community meeting before the City’s formal pre-screening of the project, although there is no date set for that community meeting yet. There is also a link on the website for a community survey, but it isn’t active yet either.