The site where Vallco Fashion Park used to sit may soon see new life as a mixed-use space, though not nearly at the same scope the developers were originally intending.
Let’s see where the project, dubbed “The Rise,” is at now.
Sand Hill Property Company finished their purchase of the remaining Vallco retail space in 2014, and the mall officially closed its doors in 2018 — following the exodus of the remaining tenants. Plans for the space solidified as “The Rise” in March of 2022.
Originally, one of the project’s signature features included a rooftop park, but has now changed to become a seven acre, street-level public park.
Retail space will be decreasing ~50% as well — from 429,000 sqft to 230,000 sqft — and will prioritize smaller retailers and restaurants.
Other changes to the plan involve the residential side of the mixed-use space. Instead of seven 240-ft residential towers, the new plan calls for three shorter towers along with 85-ft or shorter homes.
While the overall number of homes will increase by 10% (up to 2,669 total units), the number of those that will be affordable will be scaled back from ~1,200 to 890 units.
Cupertino City Council still needs to approve the new plans, and will take the next ~60 days to review, per state law.
Sand Hill says they still need to prepare the site for construction, which could begin in 2024. The full project will break ground in 2025.