Where: 420 Cambridge Ave., Palo Alto
What: Construction of Cambridge Plaza -- four 3-story, 1,500-square-foot condominiums (3 bedrooms, 2.5 baths); one 1,500-square-foot commercial condominium; and a covered parking garage. The retail space at ground level is expected to house personal services.
When: Through March 2012
Who: Clarum Homes, 599 College Ave., Palo Alto
Cost: $1.81 million
Impact: Reduced parking on Cambridge adjacent to the construction site; intermittent deliveries of construction materials and equipment; some traffic slowdown and pedestrian sidewalk obstruction to accommodate heavy-equipment movement.
Revenue: Annual property and utility-user tax revenue for the City of Palo Alto is estimated at $5,600, plus an estimated $10,600 one-time documentary tax.
Of note: This is Palo Alto's first project in the Pedestrian Transit Oriented District zone and is intended to provide a walkable lifestyle with access to mass transit and groceries, restaurants and services. Also, the building, on a 6,000-square-foot lot, will apply for the environmental designation of U.S. Green Building Council-certified LEED Platinum. Each unit will have a solar electric system and solar hot-water-heating system and a car stacker in the garage, which will allow two cars to park in one space.