Hanging Out In Palo Alto

Musings on the economics of apartment complexes.

This is almost the last bit of news on my mom’s visit: she’s leaving Tuesday morning…

Today we went to church at Peninsula Christian Center, the church Paula and I have been attending since moving here.

Afterwards, we came home, had some PBJ sandwiches, and passed the afternoon listening to the Peninsula Symphony play a free concert at our apartment complex! Evidently Oak Creek apartments are a big sponsor of the symphony, so once a year they come do a free concert for us. Pretty cool.

That made me start thinking, however. How can an apartment complex afford to sponsor a symphony? The answer: pretty easily. Oak Creek Apartments has 759 units. Renting those at Bay Area prices means they’re taking in around 1.5 million dollars each month. Even if they had 50 employees and paid them $100,000 a year they still would clear around a million each month. Pretty neat business, that.

We wrapped up the day by grilling some steaks. Fun stuff.

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