The Palo Alto City Council is considering implementing an annual cap on commercial and office development despite resistance from Stanford University and other companies. This could have unintended consequences for Stanford’s Research Park, one of the largest and most well known parks due to its emphasis on innovation and its connection to Stanford and Silicon Valley.
Tiffany Griego, managing director of Stanford’s Research Park, fears that an annual cap would compromise Stanford’s “mutual ability to attract companies that create long-term economic stability in our City,” she expressed in a letter to the council.
Though Stanford’s Research Park has been growing at a “modest average rate” of 16,000 square feet per year, the City Council believes implementing an annual cap will resolve problems such as too much traffic and not enough parking.
The City Council will begin discussions on March 2.
Contact Jeremy Quach at jquach ‘at’ stanford.edu.