One of Palo Alto’s oldest and most recognizable neighborhoods – Downtown North Palo Alto – grew out of necessity during the construction of Leland Stanford Junior University – workers needed places to live, shop and eat. Downtown North Palo Alto, located between Alma Street, Middlefield Road, University Avenue, and San Francisquito creek, is a few hundred footsteps from University Avenue which one of the most dynamic, diverse and economically powerful streets in the Silicon Valley. The Downtown North neighborhood is the essence of urban living in Palo Alto, the hub of Silicon Valley. Dozens of wonderful and tempting restaurants, cafes, shops, a theatre, and prestige stores line University Avenue (the heart of Palo Alto) – all within minutes of walking from Downtown North Palo Alto. Jump on your bicycle, or throw on your walking shoes and Downtown North is also minutes from world renowned Leland Stanford Junior University and its sprawling campus. A few minutes walking in the other direction leads to Caltrain – and all points north and south.
Developed after World War II “Midtown” Palo Alto contains all of the essential elements necessary to be a classic desirable family neighborhood. Midtown is unambiguously located right smack in the middle of Palo Alto. At inception Midtown was supposed to be a prototypical track neighborhood designed to accommodate California’s state-wide post-War development boom that defined the start of suburban sprawl. Originally considered South Palo Alto, Midtown grew so big, so fast that the two separate neighborhoods – Midtown and South Palo Alto – were destined to be separated out of necessity. Today Midtown is a distinct, charming stand-alone neighborhood which epitomizes Palo Alto neighborhood living.
Are you surprised both small and large Chinese investors and builders are looking to build in the United States? You shouldn’t be.
It is well known that for quite some time that the Chinese real estate market has slowed dramatically which has created a void that the United States market is filling, including the Bay Area and Palo Alto in particular. We are not talking about just the large Chinese builders, but the small ones as well as they have followed suit and began to look across the globe to seek opportunities. In many parts of China developers are sitting on many empty finished units, undeveloped lots, and no improved economic conditions in site. Moreover because the market has slowed profits have been narrowed and companies are finding it difficult to stay in business – sound familiar? In fact, homes prices dipped approximately 1% in August 2014 according to the China Real Estate Index System.
The last several years has shown the tremendous effect Chinese investors are having on the Silicon Valley real estate market. The influx of Chinese investment in Palo Alto real estate in particular has many factors which together create the basis for this real trend. The abundance of educated people and universities, the already diverse culture and population, the ease of immigration possibilities, the fundamentally sound federal and state government, and the mecca of the greatest high-tech companies in the world form the confluence of primary elements for Chinese investment in Palo Alto.