All rights reserved. [Sand Hill] has demonstrated theyre not afraid to do something thats challenging., Competition is tough around this area, Rohde said, adding that the rise in consumers Internet shopping also has been a challenge for Vallco and other malls and likely will continue to plague shopping centers., The days of department stores anchoring shopping centers are really over, Rohde said. Paper plans are available at City Hall for review during business hours. State Density Bonus law allowed the developer certain incentives related to the type (only one-bedroom and studio units) of affordable units provided, size (smaller one-bedroom and studio units than market rate one-bedroom and studio units) of affordable units provided, and the amount of retail space (less than required) the project provides. Vallco Town Center - Property investment Vallco Mall Redevelopment (The Hills at Vallco) - Brightworks The Rise embraces the natural environment, Cupertino's cultural and socioeconomic diversity and the city's residents' strong desire for a local gathering place to come together as one community. On September 7, 2021, the City Council received an update on the status of the Vallco SB35 project. Amid the demolition of Vallco, the city and Sand Hill Property Co. continue battling over plans for a mixed-use development with housing on the old mall site. The remediation of the contamination is a key part of the process, the mayor said. On May 27, 2022, the City received additional amended plans from the Vallco Property Owner LLC (VPO) for modifications to the Vallco Town Center pursuant to SB35 project approved in September 2018. The Rise is born from the global capital of innovation Silicon Valley has changed the way the world lives, and The Rise aspires to fundamentally change how Silicon Valley lives. Sand Hill Property Company | Silicon Valley | SHP We value your privacy We use cookies to enhance your browsing experience, serve personalized ads or content, and analyze our traffic. Sand Hill files lawsuit over office space at Vallco - The Mercury News To be put in touch with our office and retail leasing teams, or to be added to our housing interest list, visit www.TheRiseCalifornia.com. Now, about 640 of the affordable units, or 53%, will be 1-, 2- and 3-bedroom units, while 560 affordable units, or 47%, will be studios, Moulds said. Services provided Advanced Green Buildings LEED Services Other Green Building Consulting Industry sector Real Estate Development That plan called for 2.4 million square feet of office space, 640,000 square feet of retail and just 800 housing units 10 percent of which would have been affordable. All Access Digital offer for just 99 cents! Sand Hill is securing building permits and hopes to start excavation in the next few months. Both measures lost in the November 2016 election. On April 15, 2021,Vallco Property Owner LLC (VPO), applied for regulatory oversight for the western portion of the project site with the Santa Clara County Department of Environmental Health (SCCDEH) based on concerns outlined by the City in prior communication. Despite its seemingly strong location on 50 acres at North Wolfe Road and Stevens Creek Boulevard, Vallco has floundered. Please visit the GeoTracker link provided above to sign up for updates from GeoTracker for all documents and to get real time updates on the latest activity. Pau told council members that Sand Hills Vallco project could take five to seven years to complete. On May 25, 2022, the City received amended plans from the Vallco Property Owner LLC (VPO) for modifications to the Vallco Town Center pursuant to SB35 project approved in September 2018. The developer of Cupertinos Vallco Town Center, one of Silicon Valleys largest mixed-use projects, rebranded it as The Rise and hired commercial listing brokers, calling it a new era for a $4 billion development thats been hampered by delays since it was approved more than three years ago. Built in the 1970s as a state-of-the-art shopping center, Vallco began to falter 10 years later when competitorValley Fair, now owned by Westfield, opened in nearby Santa Clara. The once-thriving iconic Vallco Shopping Mall, built in the 1970s, sits on prime property across the street from the 2.8-million-square-foot Apple headquarters and kitty-corner from Sand Hill's 17-acre Main Street Cupertino mixed-use development, both of which are slated to open by 2016.

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