Father-and-son duo Stephen and Jared Silver have been nurturing an ambitious project in the tech hub of Silicon Valley for three years. The CEO and president, respectively, of Stephen Silver Fine Jewelry joined forces with late real estate mogul John Arrillaga to spearhead the development of The Villa Menlo Park — a three-story, 35,000-square-foot retail and dining complex in the northern California city. The project puts luxury watchmakers, jewelry brands and Michelin-starred restaurateurs at the heart of a purpose-built community space for locals.
“In a mature community like Menlo Park, this was a once-in-a-generation moment,” recalls Jared Silver, who believes the area previously lacked a “centrally located experience destination” that could meet the high expectations of its local audience. He blames this on “street conditions” and other factors in San Francisco, as well as the hurdles in a post-Covid-19 environment, such as the cost of construction, the availability of materials, and the price of labor — especially in an area that “already suffers from inflated costs.”
Community as commodity
As the master tenant, Stephen Silver Fine Jewelry began welcoming clients to The Villa Menlo Park this past November on an appointment-only basis. Two months later, the business formally cut the ribbon on its new flagship boutique. It plans to open its upstairs space in the spring, incorporating a new high-jewelry salon. The center’s other occupants will be a curated mix of mono-brand boutiques, including Swiss watchmakers MB&F, H. Moser & Cie, Ulysse Nardin, and Greubel Forsey, as well as watch-winder company Buben & Zörweg.
“What we offer collectively is community, which is a unique commodity,” Jared Silver explains. “High-end retail is changing all over the world as people seek emotional and experiential touchstones they find in other sectors like travel. The Villa Menlo Park has been designed, and the tenancy curated, to be a welcoming community space where people can connect, discover, and share experiences around the passion points of life.”
He is confident that this “new cultural hub for Silicon Valley” can draw notoriously private local residents out of their bubbles. “In a place like Menlo, which has limited public spaces and has prioritized exclusivity and privacy in home design, this will be a very compelling niche.”
A reputation for quality
Stephen Silver’s own customer base is strong after 44 years in the San Francisco Bay Area, most notably at the company’s now-closed Rosewood Sand Hill boutique. Its expertise lies in fine jewelry, estate jewelry, and precious colored gemstones — areas where the elder Silver leads the charge — as well as rare and collectable Swiss timepieces, which are Jared’s department. His father has storied links to significant fancy-color diamonds, including the Cullinan Blue diamond necklace — which he donated to the Smithsonian Museum of Natural History in Washington, DC — and the 14.93-carat Pink Promise, which sold for over $32 million in 2017.
At The Villa Menlo Park, the business has expanded its bridal offering not only to accommodate an increase in foot traffic, but to target a different generation.
“Our core clientele is getting younger as the interest in our independent watches rapidly broadens,” says the company president. “We look forward to serving the needs of these customers while also continuing our work in extraordinary gemstones, where our reputation has been built.”
Upscale taste
Thanks to its trustworthy heritage, the jeweler has access to Silicon Valley’s wealthy collectors, many of whom are well-educated on diamonds, colored gems, and luxury timepieces.
“We see continued health in the top-end niche of colored diamonds,” says the younger Silver, adding that “quality-origin precious color” also performs well for the business. “The same can be said about independent watches. The category received a jolt of energy and awareness during [Covid 19]. These products offer such a contrast to the standard brands in terms of creativity and personal connection, and we don’t see them slowing down anytime soon.”
If Stephen Silver Fine Jewelry achieves its aim of bringing the tech-savvy community of Silicon Valley together under one roof, its retail development will serve as a blueprint for others. By focusing on colored diamonds and outside-the-box Swiss brands, the business can offer something different to people who feel they’ve seen it all. The Villa Menlo Park is in its infancy as of this writing, but within a few months, it may well be drawing collectors from much further afield than the San Francisco Bay area.
Main image: The Villa Menlo Park luxury retail complex. (Stephen Silver)
