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.

Leave a Reply