1. Who is eligible to purchase a home at Olmsted Terrace?
2. How can I buy a home at Olmsted Terrace?
3. Can I use a realtor?
4. How is the purchase price determined?
5. How many homes are in the Olmsted Terrace neighborhood?
6. Are the homes subject to a Stanford ground lease?
7. How many different floor plans are available at Olmsted Terrace?
8. What do the homes look like?
9. What size are the lots?
10. What principles guided the site layout and design of the community?
11. Do the front doors face Stanford Avenue?
12. Do all the homes have driveways off Olmsted Road?
13. What are the parking rules?
14. Where will my guests park?
15. Do the homes have private yards?
16. What schools will my children attend?
17. Who takes care of my landscaping and the exterior maintenance of my home?
18. What features are included in the homes?
19. Are the homes wired for communications and data?
20. Are the homes accessible to those with disabilities?
21. Is there available storage space?
22. How private is this community?
23. Is my home and neighborhood "green" or "sustainable?"
24. Are there trees within the neighborhood?
25. Is public transportation nearby?
26. Is there a Homeowner Association (HOA)?
27. Are there community rules and regulations?
28. Do Olmsted Terrace residents pay ground rent?
29. Is Olmsted Terrace part of SCRL (Stanford Campus Residential Leaseholders)?
30. Is there a home warranty and customer service program available?
31. Who are the utility service providers to Olmsted Terrace?
32. Do I have to subscribe to PSSI for garbage collection?
33. Where can I get more information about the University's housing assistance programs and the purchase process?
- Who is eligible to purchase a home at Olmsted Terrace?
The homes are for purchase only by eligible faculty members whose appointment at Stanford is 100% time. See the Eligibility section on the Overview tab for more details.- How can I buy a home at Olmsted Terrace?
Prospective buyers are invited to join an Interest List for homes that become available. The interest list will be open for at least six weeks to give eligible faculty enough time to view the home and complete the interest list. A random-number drawing (lottery) will be held after the interest list closes and all interested participants are vetted. Only prospective buyers who qualify will be included in the lottery. - How can I buy a home at Olmsted Terrace?
- Can I use a realtor?
Yes, you can use a realtor. However, an agent is not required and the University will not pay a real estate commission. - How is the purchase price determined?
The price for each home is based upon an appraisal. The prices for the homes reflect comparable home prices available in the marketplace adjusted for the restrictions in the ground lease. - How many homes are in the Olmsted Terrace neighborhood?
Thirty-nine (39) single-family detached homes comprise Olmsted Terrace, located on the eastern edge of the Stanford University Campus, along Stanford Avenue between El Camino Real and Escondido Road. - Are the homes subject to a Stanford ground lease?
Yes. Because the site is a part of the Stanford University founding grant, the homes are subject to a special ground lease. See the Ground Lease section on the Overview tab for more details on resale and use restrictions. - How many different floor plans are available at Olmsted Terrace?
There are four two-story floor plans. Thirty-two homes offer 3 bedrooms, 2½ bathrooms and a study, and these homes range in size from approximately 1,930 to 2,250 square feet excluding the attached two-car garage. Seven homes offer 4 bedrooms, 2½ bathrooms and a study, totaling approximately 2,400 square feet excluding the attached two-car garage. - What do the homes look like?
The architect for Olmsted Terrace designed several architectural styles that reflect the bungalow cottages in College Terrace and greater Palo Alto with respect to scale, proportion, detail and color. The architectural styles at Olmsted Terrace are Bay Area Bungalow, Classic Craftsman, Traditional, Historic California and European Cottage. The homes include such features as front porches, French doors, and roof gables. Twelve different exterior color palettes compliment the architectural styles. - What size are the lots?
The average lot size is approximately 4,900 square feet, with individual lot sizes ranging from approximately 3,200 square feet to 7,200 square feet in size. - What principles guided the site layout and design of the community?
The site layout was designed to maximize the efficient use of the land and accommodate features found within sustainable neighborhoods. For instance, considerable attention was paid to enhancing the pedestrian experience of residents. The resulting "cluster" configuration of the site allows for the development of thirty-nine homes and some pedestrian-oriented common areas, including a public jogging trail and sidewalk along Stanford Avenue and a sidewalk along Olmsted Road. A number of the homes are oriented around shared private courtyards. Shared private drive courts minimize driveway curb cuts and paved areas. The shared courtyards and driveways also serve to extend the view corridors of Princeton, Cornell and Williams streets into the site, creating the same sense of neighborhood blocks that occur in College Terrace. In addition, similar street setbacks and height limits as found along the College Terrace street frontage were carried across Stanford Avenue into the site. - Do the front doors face Stanford Avenue?
A few homes do have front doors that face Stanford Avenue. Some other homes have front doors that orient toward fully landscaped shared private courtyards, providing a sense of community among the homeowners. Note that the postal address for all the homes at Olmsted Terrace is Olmsted Road. - Do all the homes have driveways off Olmsted Road?
Access to Olmsted Terrace is primarily from Olmsted Road, except for a limited number of driveways off Oberlin or Wellesley streets. No driveway access is available from Stanford Avenue. To minimize the number of curb cuts on Olmsted Road, many homes share private drive courts, which also provide for optimal guest parking within the development. - What are the parking rules?
Each homeowner may have up to two vehicles that are parked within the project on a regular basis. - Where will my guests park?
Each home has a designated guest parking space and a Stanford University guest parking permit to be given to the guest by the homeowner. - Do the homes have private yards?
Yes. Each home has a small private fenced yard, and some homes offer a second private fenced side yard. - What schools will my children attend?
All homes are located in the Palo Alto Unified School District (PAUSD). We have been informed by the PAUSD that neighborhood children will likely attend the adjacent Escondido Elementary School, Jordan Middle School, and Palo Alto High School, subject to PAUSD school assignment and overflow policies. For further information on the Palo Alto Unified School District, including school test scores, and school assignment and overflow policies, please call 650.329.3707 or visit www.pausd.org. - Who takes care of my landscaping and the exterior maintenance of my home?
All landscape and hardscape areas that fall within the shared spaces, including the shared courtyards, shared drive courts, and open spaces, will be maintained by Stanford. Homeowners cannot add to or alter the landscape areas within the shared spaces in any way even though they may seem a part of a home's yard. Homeowners are responsible for the maintenance of landscaping within the private fenced yards, as well as all maintenance of their individual homes, including exterior walls and roofs. - What features are included in the homes?
Each home comes with high-quality finishes, such as granite slab countertops, maple or cherry cabinets, hardwood flooring in the great room, and air conditioning. - Are the homes wired for communications and data?
The homes are fully wired with phone and data cabling systems. For more information about residential communication services and rates, you will have to contact your desired provider. - Are the homes accessible to those with disabilities?
All homes are two-story. However, care has been taken during the design process to minimize the need for steps up into the first floor of the homes. The first floor of many of the homes can be accessed directly from the sidewalk without a step or ramp. The half bathrooms on the first-floor of the homes are sized to accommodate wheelchair access. - Is there available storage space?
Each home has a generous two-car garage, with room for storage and bicycles. Each master bedroom suite has a large walk-in closet, and each secondary bedroom has an ample-sized closet. There is a coat closet on the first floor of every home. Significant storage space can be found under the stairs in some floor plans. Each home has a separate laundry room, providing opportunities for additional storage. - How private is this community?
Low level "good-neighbor" fences and gates create a sense of privacy for the community, providing visual cues to non-residents that the community is not "open to the public." Additionally, an approximate five-foot tall solid wood gate leads to the private fenced yard areas for each home. - Is my home and neighborhood "green" or "sustainable?"
The Olmsted Terrace neighborhood was designed with sustainability in mind, using the land, energy, water and other natural resources efficiently to promote a high quality indoor living environment and a livable and walkable community. - Are there trees within the neighborhood?
There are over 200 trees on the project site, including a number of significant oak trees. - Is public transportation nearby?
Yes. The Marguerite Shuttle runs along Olmsted Road with stops at Oberlin, Wellesley and Yale. The Marguerite connects to CalTrain at both the University and California Avenue stations. In addition, there is a Marguerite Shopping Shuttle serving the area during the school year. - Is there a Homeowner Association (HOA)?
No. Currently there is no homeowner association. There is, however, a minimal subdivision fee which covers the maintenance of shared spaces which is payable monthly. - Are there community rules and regulations?
Yes. In order to maintain the high-quality and timeless appearance of the neighborhood now and into the future, pre-determined Rules and Regulations apply. The Rules and Regulations are available for review prior to any purchase decision. The Rules and Regulations address such topics as how many pets you may have, permitted alterations to the home and landscaping, permitted window coverings, restrictions on paint colors, and noise restrictions. - Do Olmsted Terrace residents pay ground rent?
Yes, all homes located within the residential subdivisions on the Stanford Campus pay a monthly ground rent. - Is Olmsted Terrace part of SCRL (Stanford Campus Residential Leaseholders)?
Yes, lessees at Olmsted Terrace are members of SCRL. See the SCRL website for more information. - Is there a home warranty and customer service program available?
Yes. Copies of the limited home warranty will be available for review prior to any purchase. - Who are the utility service providers to Olmsted Terrace?
Domestic water is provided by Stanford University. The Sanitary Sewer ultimately flows to the City of Palo Alto Municipal Wastewater Treatment Plant. Electric and gas service is provided by PG&E. Communications and data connections are available through outside vendors such as Comcast and AT&T. Garbage collection and recycling services are provided by Peninsula Sanitary Service, Inc. (PSSI). - Do I have to subscribe to PSSI for garbage collection?
Yes. All residents of Santa Clara County are required by ordinance to subscribe to a provider of refuse collection and recycling services with a minimum of one pickup per week. Dumping in any other container is illegal. Please visit PSSI's website at recycling.stanford.edu and go to the Faculty Staff Housing section. - Where can I get more information about the University's housing assistance programs and the purchase process?
Visit the Faculty Staff Housing website at fsh.stanford.edu, which provides details about purchasing a home, including applicable financing programs.