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MENLO PARK, CA-Stanford University is developing an ultra-luxury hotel on Sand Hill Road near Interstate 280. Steve Elliott, managing director of Stanford Real Estate, tells GlobeSt.com the $200-million development is designed to meet the needs of the venture capital and private equity firms in the area. “It’s a long-term hold,” Elliott says. “We expect it to produce a solid investment return.”

Construction is under way. The 21-acre development will consist of a 120-room hotel, spa and restaurant, and 100,000 sf of office space in multiple one- and two-story buildings. The low-rise design will be tiered on a hillside, giving guests unobstructed views of the nearby mountains.

Located at 2825 Sand Hill Rd. and bordered by existing office buildings, the development site is approximately one mile west of Stanford University on land the university has owned for more than 100 years. Rosewood Hotels & Resorts has signed a long-term management contract for the hotel, restaurant and spa.

The facility is slated to open in spring 2009 as the largest hotel in Menlo Park. With room rates slated to be upwards of $400 per night, the hotel will be in competition mainly with the Ritz-Carlton on the cliffs above Half Moon Bay and the new Four Seasons in East Palo Alto.

“We expect there to be real strong demand,” Elliott says. “Most of the ultra-luxury hotels are located in San Francisco. This will provide a Silicon Valley alternative; there is very little comparable product in the area.”

The room mix will include a three-bedroom presidential suite, several one-bedroom deluxe and Rosewood junior suites, plus king and double-queen rooms. The rooms will average approximately 550 sf, the suites 1,500 sf and the villas 2,500 sf. The spa will be called the Rosewood and will occupy 15,000 sf. The restaurant will be called Madera. In addition to the office space, the facility will offer 8,000 sf of premier meeting and event space.

The general contractor for the project is Devcon Construction. BAMO, Inc. of San Francisco I handling the interior design.

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