Investments in Affordability
Learn about how Stanford is working to make housing more accessible for all.
Affordability
As Silicon Valley has grown around Stanford, we have made significant efforts to ensure that our student and faculty populations have access to affordable housing on or near campus. Residential development on Stanford’s lands reduces housing demand for other off-campus options and enhances our students’ academic experience. Simultaneously, we have contributed to the construction and preservation of housing for our neighbors in Santa Clara and San Mateo Counties through residential development on our lands and payments to the Stanford Affordable Housing Fund.
Preserving a Community
The Stanford Affordable Housing Fund was instrumental in preserving the 117-unit Buena Vista Mobile Home Park, which risked closure in 2017.
Supporting Teacher Housing
The Stanford Affordable Housing Fund provided $6 million to support teacher housing at 231 Grant Avenue in Palo Alto.
Lowering Market Rents
Stanford has dedicated 229 units as below-market-rate housing for the public, including the 70-unit Mayfield Place, which is exclusively for our low- and moderate-income neighbors.
Based on Stanford’s current General Use Permit from Santa Clara County, we pay into the Stanford Affordable Housing Fund when new academic facilities are built on campus. These payments total $39 million since 2000. That fund has been used to fill funding gaps for affordable housing, making the preservation of Buena Vista Mobile Home Park and the construction of the 231 Grant Palo Alto Teacher Housing project possible.
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Figure 4: Source Stanford University
Image credit: Mayfield Place, Related Management Company