Pacific Companies Wins Approval for 430 Affordable Apartments on Ravenswood School District Land in East Palo Alto

• The Pacific Companies has secured approval for a 430-unit affordable housing development on land owned by Ravenswood City School District.
• The project at 2120-2160 Euclid Avenue, East Palo Alto, CA 94303, will replace 13 existing office buildings with two six-story residential buildings.
• The development will include 430 affordable apartments, 2,071 square feet of retail space, 438 parking spaces for cars and 344 bicycle spaces.
• Construction could begin as early as June 2027, with an estimated 33-month construction schedule.

What Pacific Companies Is Building

The Pacific Companies is moving forward with a major affordable housing development on the former Ravenswood City School District headquarters site in East Palo Alto, San Mateo County. The project will transform approximately four acres of district-owned land into two six-story apartment buildings with a combined 430 homes. The development received planning approval in July 2026, followed by additional City Council action on affordability requirements in September. The project is structured as a ground lease, allowing the school district to retain ownership of the land while generating lease revenue. The arrangement gives the district a potential long-term income stream while making its former headquarters available for residential redevelopment.

 

 

What the 430 Apartments Will Include

The planned development will offer a mix of studio, one-bedroom, two-bedroom and three-bedroom apartments. All 430 homes are designated as affordable housing, with income restrictions tied to area median income. The city's project record lists affordability levels ranging from 30% to 70% of area median income, while the supplied project report describes a broader range. The approved affordability structure is important because it determines which households will qualify for the apartments. The two buildings will be delivered in phases. Phase one will contain 207 apartments, followed by 223 apartments in phase two. The project also includes approximately 2,071 square feet of ground-floor commercial space, adding a small retail component to the residential development.

What the Ground Lease Means for the School District

The project creates a way for Ravenswood City School District to put surplus property to work without selling the underlying land. The district has been exploring property leases as a way to generate additional revenue for its operations and students. Local residents and district employees are expected to receive preference for a portion of the apartments. Recent reporting indicates that 195 units will be subject to the city's local preference policy, helping connect the development with the community it is intended to serve. For public landowners, the deal illustrates how ground leases can support affordable housing while preserving long-term land ownership. For developers, securing a site through a lease can provide access to land that might otherwise be unavailable for private acquisition.

What Construction and Parking Plans Look Like

The project is designed by AO, which has proposed two podium-style buildings with articulated facades, setbacks, varied materials and landscaped outdoor areas. Construction will require demolition of the 13 existing office buildings on the site. The projected schedule calls for approximately 33 months of construction, split between a 16-month first phase and a 17-month second phase. Plans include parking for 438 cars and 344 bicycles. The project will also need to coordinate construction activity, traffic, landscaping and infrastructure with the surrounding neighborhood.

What Investors and Housing Developers Should Watch

The project adds significant affordable housing capacity in a high-cost Bay Area market, while creating a recurring revenue opportunity for the school district through its land lease. The next major milestone is the anticipated construction start in 2027. Funding, permitting details and phased delivery will determine how quickly the approved homes reach residents. For property owners and developers, the project demonstrates how publicly owned land can help unlock housing construction when a ground lease aligns the interests of a public institution, a developer and local housing priorities.