Palo Alto's oldest funeral home is closing its doors on Oct. 31, and the property's new owner is Yahoo Chief Executive Officer Marissa Mayer, according to sources at the mortuary, Roller & Hapgood & Tinney.
Yahoo CEO Marissa Mayer. Photo courtesy of Yahoo.
The parcel is located a block east of Mayer's Addison Avenue home and across the street from Addison Elementary School.
Sample said she thinks the property will be used for residential purposes. That assessment is bolstered by a June 26, 2012, City of Palo Alto Regional Housing Mandate Committee staff report. The report identified the funeral-home property as a potential site for 21 residences, which would help the city reach a housing goal mandated by the Association of Bay Area Governments (ABAG).
The funeral-home property is currently zoned as Planned Community (PC), which allows for higher-density building in exchange for added public benefits. The funeral home site is surrounded by multi-family residences, including the Webster Wood Apartments for low-income families.
Mayer could not be reached for comment regarding the purchase or her plans for the property.
The deal closed Oct. 7, according to Jim Spangler, president of Mountain View-based Spangler Mortuaries, which purchased Roller & Hapgood & Tinney's business assets. He does not know what Mayer plans to do with the property, he said.
Mayer's current 5,600-square-foot home, on 0.3 acres, was the site of a Democratic fundraising dinner with President Barack Obama in October 2010.