Veronica Weber
FALL REAL ESTATE 2011
The courtyard facing the Moldaw Family Residences features outside dining and occasional entertainment for residents. Below: Marilyn Israel, executive director of the Moldaw Family Residences, said much has changed from the original planning to today’s housing market.
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Veronica Weber
HOUSING-MARKET DOWNTURN IMPACTS MOLDAW RESIDENCES
Veronica Weber
Few of the units facing into the courtyard at the Moldaw Family Residences are still available.
Page 40 I Fall Real Estate Special Section
by Emma Trotter oldaw Family Residences, an independent and assisted-living community for seniors located at 899 East Charleston Road in Palo Alto, opened in October 2009 — just in time for the housing-market collapse. Falling far short of initial projections for occupancy, Moldaw has had to get creative about attracting new residents.
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“This community was planned seven years ago,” said Marilyn Israel, Moldaw’s executive director. “It was a different world at that point.” During 2011, the community has experienced strong growth in new resident move-ins — 30 units will be newly filled by year’s end. In total, 93 of the 176 one-, two- and three-bedroom units taking up eight four-story buildings currently have tenants.