Pat Burt and Yiaway Yeh took the remaining two council seats, with 7,501 and 7,379 votes, respectively.
Eleven candidates competed for four seats on the nine-member City Council. No incumbents ran.
At least 11,587 Palo Altans voted in the election, based on an analysis of votes cast, although some absentee ballots have not been counted yet. Palo Alto has 33,098 registered voters, but Santa Clara County Deputy Registrar Marie Alvarado said Thursday the county doesn't know how many city residents voted. Countywide, 38 percent of registered voters participated in Tuesday's election, most voting by mail.
Dykwel didn't concede late Tuesday, pending the counting of recently submitted absentee ballots, and said he was surprised by the results. But Wednesday evening he conceded.
"I think it's probably over," Dykwel said. As of Thursday, he had 4,718 votes.
As of Oct. 20, the last reporting deadline, Dykwel, a real estate agent and volunteer, had raised $21,200, more than Burt, Yeh and Schmid. He gathered a network of support from the business and school communities and had been considered likely to win.
Schmid, a former school-board member and economist, received 5,585 votes. He attributed his success to his focused message on land use. During the campaign, Schmid emphasized the need for neighborhood-level planning.
Ideas, rather than money, motivated voters, he said. Schmid had raised $12,500 by Oct. 20.
"Obviously, I'm delighted with the outcome," he said Tuesday.
The order remained unchanged throughout the evening as results trickled in.
Most candidates gathered at the election party in the Garden Court Hotel, chatting with well-wishers, snacking and watching results projected on a large screen.
Espinosa said the shared celebration was a sign of future collaboration.
He attributed his success to an early start, a broad coalition and to careful listening.
"We went into every corner of Palo Alto," Espinosa said of his campaign. Espinosa, 35, is director of philanthropy at Hewlett Packard Corporation. He ran "because I love the city," he told interviewers Tuesday night.
Burt said he had been anxious until Saturday, but then he decided to stop worrying.
"I'm really excited," Burt said. He is a member of the city's Planning and Transportation Commission and a technology CEO.
At 10:20 p.m. Tuesday, although his third-place spot appeared secure, Yeh said he still had his fingers crossed.
But by 11:15, he admitted his win was "overwhelming."
"It's just been awesome," said Yeh, 29, a Gunn High School graduate who works as a public-finance consultant.
Bill Ross, an attorney endorsed by the Santa Clara County Republican Party of Silicon Valley, took sixth place with 3,043 votes. He attended a City Council meeting in Napa County Tuesday, where he serves as city attorney.
Although Debbie Mytels -- associate director of the nonprofit Acterra -- dropped out of the race in August, she still landed in seventh place, garnering 2,634 votes.
Tim Gray, a financial consultant and political newcomer, won 1,920 votes, and retired technology executive Smokey Wallace received 1,873 votes.
Gray said Tuesday the campaign was worth it because of the example he provided for his three children and their friends.
"My kids were excited to have Daddy running for office," he said.
Around 9 p.m., Wallace was heading home from a party held on his behalf at Gordon Biersch and said he wasn't sure how the race was going.
Wallace said he plans to write an op-ed piece on the lessons he's learned as a candidate and said he plans to research how to reach the "real voters" to prepare for a potential future run for council.
"I think the city is in trouble," Wallace said.
Mark Nadim, an engineer and real-estate investor, received 1,440 votes and spent the evening at Coupa Café with friends.
Nadim didn't rule out the possibility of another shot at a council seat or other elected office and said he plans to remain involved in community affairs.
Stella Marinos, a nurse, received 1,008 votes.
Panhandler Victor Frost secured 778 votes. Frost, who frequents a panhandling spot across Homer Avenue from Whole Foods Market, has used his campaign as a shield against last year's extension of a "sit-lie ordinance" that restricts panhandling in the downtown area. He has not said whether he will continue to challenge the ordinance.
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