Oxford Capital Group has revealed new plans for a six-story residential development at 3400 El Camino Real in Palo Alto, Santa Clara County. The proposal, called The Residences at Matadero Creek, would replace a 136-room hotel and retail with 382 new homes and parking for over five hundred vehicles. Explore Real Estate, a local firm, will be the project manager.
The 382 units will be split between two structures separated by Matadero Creek. Building A will include 316 units, with 66 units in the smaller Building B. Unit sizes will vary with 44 studios, 243 one-bedrooms, 86 two-bedrooms, and nine three-bedrooms. Of that, 76 residents will be designated as affordable housing for moderate-income households earning between 80-120% of the Area Median Income.
3400 El Camino Real, map by Taniguchi Landscape Architecture
3400 El Camino Real view from EL Camino Real looking down to Matadero Avenue, rendering by Studio S Squared
3400 El Camino Real facade elevations, rendering by Studio S Squared
The 61-foot tall structure will yield approximately 390,700 square feet with 249,850 square feet for residential units and 4,000 square feet for retail in Building A, 66,660 square feet of residential space in Building B, and the remaining floor area for amenities and circulation.
An unspecified floor area will be dedicated to unbundled parking. Building A will have a two-level basement garage below with 400 parking spaces. Another 107 spaces will be provided from surface parking, of which 25 will be available for the retail shop. Residents will have to pay to reserve a lot.
3400 El Camino Real rear view, rendering by Studio S Squared
3400 El Camino Real along Matadero Avenue, rendering by Studio S Squared
3400 El Camino Real ground-level floor plan, illustration by Studio S Squared
San Jose-based Studio S Squared Architecture is responsible for the design. BKF will consult for Civil Engineering, and Taniguchi Landscape Architecture will handle the open space design.
The 3.6-acre lot is currently developed by the Creekside Inn, which has 136 hotel rooms across 11 low-rise buildings. The program would reintroduce Matadero Creek to open-air, establishing the area around it as a public amenity with pathways and seating.
3400 El Camino Real is located at the intersection of El Camino Real and Matadero Avenue. Residents will be around 15 minutes from the California Avenue Caltrain Station by bus or seven minutes by bicycle.
3400 El Camino Real, image via Google Satellite
The application, written by Explore Real Estate, references the city’s “unprecedented Regional Housing Need Allocation (RHNA) and needs to produce a significant number of market-rate and affordable housing units.” Continuing to describe the prospect of the project, the document shares that “while making a multi-family residential project financially feasible in Palo Alto is a challenge, Oxford is excited about the opportunity to pursue… the Residences at Matadero Creek.”
An estimated timeline for construction and completion has not yet been established.
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Excellent write-up with very illustrative images.