Some changes have been made to the North Bayshore Precise Plan that could make Silicon Valley real estate even more popular.Since December 2014, the North Bayshore community of Mountain View became a prototype of what a truly integrated community might be like.  Plans have been drawn up (the North Bayshore Precise Plan, to be more specific).  Meetings have been held.  Community officials have passed ideas back and forth.  On November 29th, council members met again to review the plan.  The following provides an insight into the latest North Bayshore Precise Plan update.

North Bayshore Precise Plan Update

As you may know, Silicon Valley Real Estate offers some of the most highly sought-after property in California.  Both businesses and people want to occupy this space.  High-tech companies like Google, Apple, and Cisco call the Silicon Valley home.  Other big name corporations such as eBay, Facebook, and Netflix also find Silicon Valley Real Estate to be the best for their companies.  People that work here need to live here, too.  The "powers that be" believe that the North Bayshore community of Mountain View can integrate residential and commercial life into one seamlessly cohesive unit.  Thus, the North Bayshore Precise Plan was born.

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The North Bayshore Precise Plan takes inspiration from the Old World.  Engineers envision European-style walkways.  Instead of large homes, they see residents inhabiting micro-apartments.  A percentage of homes would be designated as "affordable housing."  Instead of relying on gas-powered vehicles, a people mover transports residents from place to place.  Flora and fauna that make the North Bayshore area so famous would also help protect the natural surroundings, 

North Bayshore Precise Plan Update

To achieve the goals laid out in the North Bayshore Precise Plan, Mountain View council members relied heavily on financial investment from Google, the largest landowner in North Bayshore.  Google expressed concern that requiring them to designate one-fifth of their apartments as "affordable housing" might not be make financial sense for them.  The cost of land was cited as the biggest obstacle to making this a viable option.

In response, City Council Members discussed scaling back the affordable housing aspect of the North Bayshore Precise Plan.  They now call for three separate "mini-neighborhoods" that center around Pear Ave, Joaquin Rd and Shorebird Way.  They will provide over 9800 new homes in the North Bayshore community.

It remains to be seen how the North Bayshore Precise Plan will pan out when it is completed.  Parking and affordability play major factors in how the community will be developed.  Currently, an Environmental Impact Report needs to be conducted.  The EPC and City Council plan to meet next summer to discuss the report's findings and determine where to go from there.

Tom Stynes, StynesGroup Real Estate Services, your source for Silicon Valley Real Estate