The Rise at Vallco: Cupertino’s Largest New Housing Development Moves Forward

Cupertino is entering a new chapter of residential and mixed-use development, as The Rise, the city’s largest redevelopment project, has announced updated plans for its first major vertical construction phase: Town Square West. Construction is scheduled to begin in 2026, with the first homes and amenities expected to be delivered by 2028. Located on the former Vallco Mall site, this long-anticipated project represents one of the most significant housing and community investments in Silicon Valley history—and it will have lasting implications for Cupertino home values, rental inventory, and future real estate opportunities.

What Is Town Square West?

Town Square West is the first livable phase of The Rise and will set the tone for the entire master-planned community. This phase alone delivers a balanced mix of for-sale homes, rental housing, retail, and public open space, creating a walkable, neighborhood-centric environment.

Planned Highlights Include:

• 1,369 total housing units

   

  • 232 affordable family rental homes

  • 744 market-rate rental units

  • 393 for-sale homes

• 202,000 square feet of retail space, representing nearly 90% of the project’s total retail footprint

• Over three acres of public parkland, connecting five distinct open spaces with plazas, playfields, and pedestrian trails

This blend of housing types is designed to support buyers, renters, families, and professionals—a rare combination in one of the most supply-constrained housing markets in California.

Why This Matters for Cupertino Housing Supply

Cupertino has long faced limited housing inventory, particularly for new construction and family-oriented homes. Once complete, The Rise will deliver:

• 2,669 total housing units

• 4.8 million square feet of residential space

• The largest single housing opportunity in Cupertino’s history

While updated plans reduced total affordable housing units from earlier projections, the project preserves Very Low Income (VLI) housing and prioritizes larger, family-sized residences—an important factor for long-term community stability.

Additionally, approximately 500,000 square feet of office space was removed, eliminating two planned office buildings. This change lowers overall building height and is expected to reduce traffic impacts, aligning the project more closely with Cupertino’s residential character.

Economic and Community Benefits

 Beyond housing, Town Square West delivers meaningful economic value to the city. According to a project release, this phase includes $5 million in direct benefits to the City of Cupertino, supporting infrastructure and community services.

Project executive Reed Moulds emphasized that delivering housing and public amenities first has been a core priority:

“This marks a significant step forward as we complete our foundational work and begin delivering long-promised housing and community amenities.”

The project’s progress has already received regional recognition. In November 2024, developer Sand Hill Property Company and the City of Cupertino were jointly honored with a Structures Award from the Silicon Valley Business Journal, with Mayor Sheila Mohan calling The Rise “one of the most important collaborations of the last decade.”

What This Means for Buyers, Renters, and Investors

For homebuyers, Town Square West introduces rare new-construction ownership opportunities in Cupertino—an area traditionally dominated by older housing stock. For renters, the influx of modern, amenity-rich apartments may help relieve pressure in a tight rental market. For real estate investors, the scale, walkability, and mixed-use design of The Rise position it as a long-term value driver, especially as Silicon Valley continues shifting toward live-work-play communities.

Looking Ahead to 2028 and Beyond

The transformation of the former Vallco Mall site into The Rise represents more than redevelopment—it signals Cupertino’s commitment to sustainable growth, housing diversity, and community-centered planning. As Town Square West moves toward construction, it will be closely watched by buyers, sellers, developers, and policymakers alike. By delivering housing, retail, and public spaces together, The Rise is poised to become a new social and economic hub for Cupertino—and a defining project for the city’s future real estate landscape.

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