Replacement Parking Blows $19MM–$45MM Holes in Menlo Park’s Downtown Housing Bids

A Menlo Park–commissioned financial review found that Alliant Communities, Presidio Bay Ventures and a Related California–Alta Housing team each face funding gaps of roughly $19 million to $45 million on their bids for downtown Parking Plazas 1, 2 and 3, and the City Council responded on Sept. 29 by refusing to cut parking or affordability while putting paid parking and a sales tax on the table.