What is the Mayfield Agreement?
Stanford University will lease to the City of Palo Alto the 6-acre Mayfield site, located at the corner of Page Mill and El Camino Real, for $1 per year for 51 years. Stanford will construct soccer fields on the Mayfield site at Stanford’s cost and turn them over to the City upon completion. In addition, Stanford will build 250 units of housing on two sites in the Stanford Research Park where R&D/office buildings exist today. In exchange, the City will grant Stanford the right to relocate 300,000 sq. ft. of R&D/office space (less than the amount that will be demolished on the housing sites) elsewhere in the Stanford Research Park.