Belmont Real Estate Guide
The Island Parkway Project: 400 New Homes Planned for Belmont
A preliminary look at one of the largest new housing proposals Belmont has seen in years
|
~400 Total Units Proposed |
11 Acres Total Site, 5 Parcels |
20 Min Walk To Belmont Caltrain |
Preliminary Filed May 2026, Not Yet Approved |
A significant new housing proposal is moving through Belmont’s planning process, and it’s worth understanding both what’s actually planned and how early-stage the project still is.
What’s Actually Being Proposed
Developer BayWest Development filed preliminary plans in May 2026 for approximately 400 residential units spread across five parcels totaling 11 acres, spanning the Belmont and Redwood City border near Island Parkway, Concourse Place, and Clipper Drive. A full build-out would total roughly 803,400 square feet of housing across 83 structures, with parking for 627 vehicles.
The Unit Mix
| Unit Type | Approximate Count | Location |
| Multifamily apartments | More than half of all units | A 7-story building on Parcel 1, Belmont |
| Townhouse-style apartments | 140 units | Belmont |
| Single-family homes | 57 homes | Belmont |
| For-sale townhomes | 64 units | Redwood City (Parcel 5) |
A Waterfront Setting With Real History
The site sits along O’Neill Slough and Belmont Slough, close to the Bay Trail, in an area that developers in the 1980s originally called “Island Park” due to the way the two sloughs wrap around and enclose the site. The Redwood City parcel specifically sits near the Bay Trail, adding a genuine waterfront amenity to that portion of the project.
Commute Access
Future residents would sit roughly 20 minutes on foot, or about 5 minutes by bike, from the Belmont Caltrain station, thanks to an existing bike bridge connecting the area to both Caltrain and the Bay Trail.
How Early-Stage This Really Is
As of these preliminary plans, the estimated cost and construction timeline have not yet been shared, and the project still needs to move through Belmont and Redwood City’s full planning and approval processes before any construction begins. The site currently includes vacant land, three vacant commercial buildings, and a parking structure, all of which would need to be demolished first. Notably, an earlier, separate proposal for the same site as a large life sciences office campus, from BioMed Realty, has been formally paused, suggesting this residential direction is now the more active path forward.
Key Takeaway
The Island Parkway project could add roughly 400 new homes near the Belmont and Redwood City border, a genuinely significant addition to local housing supply, but it remains in a preliminary planning stage with no confirmed timeline yet.
Frequently Asked Questions
Has the Island Parkway project been approved?
No, as of the preliminary plans filed in May 2026, it still needs to move through the full city approval process.
Will any of the units be for sale rather than rental?
Yes, 57 single-family homes in Belmont and 64 townhomes in Redwood City are planned as for-sale product.
How close is the site to Caltrain?
Roughly a 20-minute walk or 5-minute bike ride to the Belmont station.
What was on this site before?
Vacant land, three vacant commercial buildings, and a parking structure, all proposed for demolition.
| Related Reading | |
| Getting to San Francisco and Silicon Valley from Belmont’s Caltrain Station | See what this new development’s residents would be commuting into. |
| New Construction vs. Resale on the Peninsula | Understand how a project like this fits into the region’s broader new construction landscape. |
| Belmont Condos and Townhomes | See how this project could eventually affect Belmont’s thin attached-home market. |
| Belmont Homes for Sale | Browse current listings while this project moves through planning. |
Curious How This Project Could Affect Belmont’s Market?
I keep an eye on local development and can help you think through the long-term picture.
Holly Noto | Coldwell Banker Realty | DRE#01244498, DRE#01908304
580 El Camino Real, San Carlos, CA 94070
650.544.6185 | [email protected]
Project details reflect preliminary plans filed with the cities of Belmont and Redwood City as of May 2026 and are subject to change through the approval process. This content is for general informational purposes only.
