Silicon Valley Compound of Former JetBlue Chairman Joel Peterson Lands on the Market for $49 million

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Silicon Valley Compound of Former JetBlue Chairman Joel Peterson Lands on the Market for $49 million

Silicon Valley Compound of Former JetBlue Chairman Joel Peterson Lands on the Market for $49 million – WSJ

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On over 11 acres, the property includes two main homes, three guesthouses, a tennis pavilion, several garages, a soccer field, a tennis court, a pool and a barn that can be used as a ballroom or meeting facility. Arthur Sharif/Sotheby’s International Realty On over 11 acres, the property includes two main homes, three guesthouses, a tennis pavilion, several garages, a soccer field, a tennis court, a pool and a barn that can be used as a ballroom or meeting facility. Arthur Sharif/Sotheby’s International Realty

The property in Woodside, Calif., includes a reconstructed home by Bernard Maybeck, an architect known for Craftsman-style houses

Feb. 17, 2021 11:31 am ET

Joel Peterson, the former chairman of JetBlue, is putting his sprawling Silicon Valley compound—which includes a reconstructed home designed by noted local architect Bernard Maybeck—on the market for $49 million.

Located in the affluent suburb of Woodside, Calif., known for its pricey estates and wealthy tech homeowners like Larry Ellison, the property is on over 11 acres, with views over the Santa Cruz Mountain range, a local wildlife preserve and a horse park. It includes two main homes, three guesthouses, a tennis pavilion, several garages, a soccer field, a tennis court, a pool and a barn that can be used as a ballroom or a meeting facility, according to the listing information.

A Sprawling Silicon Valley Compound

In Woodside, Calif., the 11-acre property of Joel Peterson, the former chairman of JetBlue, comes with two main homes, three guesthouses, a tennis pavilion and more

Former JetBlue Chairman Joel Peterson’s Silicon Valley compound includes a reconstruction of a property built by architect Bernard Maybeck.

Arthur Sharif/Sotheby’s International Realty

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Former JetBlue Chairman Joel Peterson’s Silicon Valley compound includes a reconstruction of a property built by architect Bernard Maybeck.

Arthur Sharif/Sotheby’s International Realty

Mr. Peterson began assembling the compound in the early 2000s, when he bought a single home for about $6 million, according to records. Over the next few years, he added two properties on either side, one of which included a Craftsman-style house built about a century ago and designed by Mr. Maybeck, who also designed the Palace of Fine Arts in San Francisco.

The Maybeck house had fallen into disrepair and was almost unrecognizable from its original form, Mr. Peterson said. He tapped a local architect to rebuild it and salvaged an original central pavilion, which had served as the main gathering place and functioned as an indoor-outdoor entertaining space with the adjacent trellised courtyard. Taking their cues from Mr. Maybeck’s original plans, they also incorporated a tower that had been originally designed but not built.

Mr. Peterson razed one home, while the other property—a 1950s ranch house—was updated and brought to modern standards. He built the other guesthouses and the tennis pavilion. The main Maybeck house is about 6,000 square feet with three bedrooms, while the ranch house is 5,100 square feet with five bedrooms. The compound was completed around 2010.

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Mr. Peterson’s primary home is in Salt Lake City. The Woodside property has served as his home when he is in town to teach at Stanford University, where he lectures on real estate, entrepreneurship and leadership, he said. It is also a place for him, his wife and their seven adult children and their families to gather for holidays and reunions. He even once hosted a JetBlue leadership event there.

“Part of it is Covid,” he said of his reasons for selling. “I haven’t been out there now for over a year. We’re not able to gather there as much.”

He said he is also trying to scale back as he gets older. “You get to the closing chapters of your life, and you try to simplify.”

Mr. Peterson, 74, served on the board of JetBlue Airways for more than 20 years before stepping down last year. He is also the founding partner of Peterson Partners, a Salt Lake City-based investment management firm.

Arthur Sharif of Sotheby’s International Realty has the listing.

Write to Katherine Clarke at katherine.clarke@wsj.com

Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Appeared in the February 19, 2021, print edition as ‘A Silicon Valley Mega-Estate.’


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Silicon Valley Compound of Former JetBlue Chairman Joel Peterson Lands on the Market for $49 million

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