Prometheus Opens 172 Apartments in Los Altos

• Prometheus Real Estate Group has opened Harken, a 172-unit apartment community at 5150 El Camino Real, Los Altos, California.
• The development includes 29 below-market-rate homes, with apartments averaging 1,134 square feet.
• Leasing begins in October 2026, with initial resident occupancy expected in November.

What Prometheus Built at Harken

Prometheus Real Estate Group has launched Harken, a new apartment community in Los Altos, bringing additional rental housing to a market where new apartment construction has been limited for decades, according to the developer. The project offers one- and two-bedroom apartments with an average size of 1,134 square feet, positioning the property toward renters seeking larger homes in Silicon Valley. The community includes 172 units, of which 29 are designated as below-market-rate affordable housing. Harken’s opening adds rental inventory in a high-cost Bay Area market where housing supply remains a persistent challenge. For multifamily investors, the project highlights the potential to serve renters seeking access to major employment centers, schools and transit without purchasing a home in the area.

What Amenities Could Help Harken Attract Renters

The property’s amenities are designed to differentiate it from conventional apartment buildings. Features include a private listening lounge, clubhouse, two lobbies, a 24-hour fitness center, a swimming pool and a separate spa. Its location is another selling point. Harken sits between downtown Los Altos and Mountain View, less than two miles from the San Antonio Caltrain station and several local schools. That combination could appeal to professionals and households seeking access to Silicon Valley employment centers and regional transit.

What the Project Signals for Silicon Valley Investors

Harken also reflects a broader real estate strategy: converting underused commercial properties into housing. The site previously housed an office building, and the apartment project followed years of delays before reaching its opening phase, according to commercial real estate industry reporting. For property owners, office-to-residential conversions can offer a path to reposition aging assets where housing demand is stronger than demand for certain older commercial buildings. However, feasibility depends on acquisition costs, building conditions, zoning, construction expenses and financing. Los Altos also continues to face pressure to accommodate housing across income levels. The city’s housing plan identifies a need for additional residential capacity, making projects that add both market-rate and below-market homes relevant to its longer-term development goals. With 172 apartments entering the market, Prometheus is bringing new rental supply to a location where large multifamily additions have been relatively uncommon. For investors, Harken underscores the value of well-located housing and the potential for repositioning commercial sites, even in established, high-cost markets.