Atherton (!) OK’s 30-unit townhomes within city limits
The town known for single-family homes on spacious acre-lots could soon see a 30-unit townhome development. The Glenwood Avenue project relies on a new state law which allows multifamily housing near transit stops.
SB 79, which took effect July 1, requires cities to allow multifamily housing near transit stations.
In Atherton, sites within a quarter-mile of a transit stop can build housing up to 75 feet tall, up to 120 units per acre and with building space equal to 3.5 times the lot size.
Seven parcels in Atherton are within a quarter-mile of the Menlo Park Caltrain station’s pedestrian accesses.--The Almanac
Why build near transit?
Compact residential development built near transit can provide a wider range of housing types and allow seniors and children who live there to be less dependent on others for transportation.
Residential and commercial projects near transit typically appreciate in value more rapidly than other projects.
Development near transit stops — especially rail transit — also increases tax revenues for cash-strapped local governments.--Civicwell
Maximizes investment in transit.
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