What will happen to the car lots on El Camino if Measure M passes?

A:

They will be redeveloped. Commercial real estate in Menlo Park is extremely valuable (Pension fund buys Menlo Park offices for $1,193 a square foot”, Silicon Valley Business Journal, July 17, 2014). Retail vacancy rates have plummeted to less than 1.5 %. The 2012 Specific Plan made downtown real estate even more valuable by increasing the allowed density and height limits – doubling the amount of development permitted on most sites.  Measure M allows developers to build projects that are both highly profitable and consistent with the Specific Plan’s Vision and Goals. 

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