Updated September 2026
The affordable housing planned at The Rise in Cupertino has changed substantially since the former Vallco Mall redevelopment was first approved under California's SB 35 law. The original 2018 SB 35 project proposed 2,402 homes, including 1,201 affordable homes. A later version increased the overall residential count to 2,669 homes while reducing the affordable component to approximately 890 homes. The current plan continues to include approximately 2,669 homes overall but calls for approximately 356 affordable homes.
Those numbers can be confusing because they come from different versions of the project and different affordability calculations. They also should not be confused with Town Square West, the first major phase of The Rise, which is currently planned for 1,369 homes: 393 for-sale homes, 744 market-rate rental homes and 232 affordable rental homes.
This guide explains how the affordable housing numbers changed, the role of California housing law, what developers and critics argue, and what the current plan means for Cupertino.
For the broader project, including housing, retail, parks, construction and future homeownership opportunities, visit the complete guide to The Rise at Town Square West.
What Is The Rise Cupertino?
The Rise is the redevelopment of the former Vallco Mall property in Cupertino, near Apple Park. It is one of the largest redevelopment projects underway in Silicon Valley and is planned as a mixed-use district combining housing, affordable housing, retail, restaurants, public spaces and other uses.
The complete Rise redevelopment is currently planned for approximately 2,669 homes, including approximately 356 affordable homes.
Within the larger project, Town Square West is the first major phase and is currently planned for:
- 1,369 total homes
- 393 for-sale homes
- 744 market-rate rental homes
- 232 affordable rental homes
This distinction is important: the 1,369-home Town Square West plan is only part of the approximately 2,669-home Rise redevelopment.
Supporters see The Rise as a long-awaited opportunity to replace the former mall with housing, businesses, parks and a more walkable district close to major Silicon Valley employment centers.
Critics have raised concerns about density, traffic, infrastructure, schools, the scale of the development and, increasingly, the reduction in the number of affordable homes compared with earlier versions of the project.
How Did The Rise Affordable Housing Numbers Change?
The affordable housing numbers are easier to understand when the different versions of the project are viewed chronologically.
2018 SB 35 Project: 1,201 Affordable Homes
The original SB 35 project approved in 2018 proposed approximately 2,402 residential units. Half of those homes — approximately 1,201 units — were proposed as affordable housing.
Later Modification: Approximately 890 Affordable Homes
A subsequent modification increased the overall residential program to approximately 2,669 homes. Under the affordability calculation applicable to that version of the project, approximately 890 homes were identified as affordable.
The 890 figure was not simply an arbitrary estimate. It reflected the affordability calculation applied to the project's base residential yield rather than treating every additional density-bonus unit in the same manner.
Current Plan: Approximately 356 Affordable Homes
The current project continues to call for approximately 2,669 homes overall, but the affordable component has been reduced to approximately 356 homes.
Of those, 232 affordable rental homes are planned within Town Square West.
The progression can therefore be summarized as:
- 2018: approximately 2,402 homes, including 1,201 affordable homes
- Later modification: approximately 2,669 homes, including 890 affordable homes
- Current plan: approximately 2,669 homes, including approximately 356 affordable homes
That reduction has become one of the most debated aspects of The Rise redevelopment.
Why Were The Rise Affordable Housing Numbers Reduced?
There is not a single explanation. The changes involve both California housing law and substantial changes to the development program and its economics.
An important factor is a change to California Government Code Section 65913.4, the statute governing qualifying streamlined housing projects under SB 35.
Changes to the law affected the affordability requirements applicable to certain large projects submitted before January 1, 2019. For a qualifying project such as The Rise, the applicable affordability threshold for base housing units could be reduced from the previous 50% requirement to 20%.
That statutory change allowed the developer to seek a modification containing substantially fewer affordable homes while continuing to use the state's streamlined housing approval process.
This is an important distinction because the reduction from earlier affordable housing totals was not simply the result of deciding to replace affordable apartments with market-rate housing. The project has evolved under a changing state housing-law framework.
How Did Project Economics Affect The Rise?
The development program itself has also changed considerably since the original Vallco redevelopment was proposed.
The developer has pointed to major changes in the commercial real estate and construction environment, including:
- weaker post-pandemic demand for large office developments,
- higher construction costs,
- higher financing costs,
- and the difficulty of financing extremely large mixed-use developments.
One significant modification reduced the amount of planned office space by roughly 500,000 square feet.
The office reduction and affordable housing reduction should not, however, be treated as the same calculation. Changes to the project's economics affected the overall development strategy, while changes to California housing law altered the affordability requirements available to the project.
Together, those factors helped produce a significantly different development program from the Vallco redevelopment approved in 2018.
What Is Planned at Town Square West?
Town Square West provides the clearest picture of what the first major residential phase of The Rise could look like.
The current Town Square West plan includes:
- 1,369 total homes
- 393 homes intended for sale
- 744 market-rate rental homes
- 232 affordable rental homes
- approximately 200,000 square feet of retail, dining and neighborhood-serving uses
- parks, open space and pedestrian-oriented public areas
The 232 affordable homes represent the majority of the approximately 356 affordable homes currently planned across the complete Rise redevelopment.
The affordable housing component is being advanced in partnership with Eden Housing, an experienced nonprofit affordable housing developer.
For buyers interested specifically in the future ownership component, see the latest information about The Rise Cupertino homes for sale and market-rate buyer updates.
Are The 232 Affordable Town Square West Homes for Sale?
No. The 232 affordable homes currently planned at Town Square West are rental homes.
This is separate from the 393 market-rate homes planned for purchase within Town Square West.
That distinction is particularly important because Cupertino also operates affordable homeownership programs elsewhere in the city. Buyers researching below-market-rate ownership opportunities should not assume that the 232 Town Square West affordable apartments are part of a for-sale BMR program.
For information about purchasing below-market-rate housing elsewhere in Cupertino, see the Cupertino BMR Homeownership Buyer’s Guide.
What Developers and Supporters Argue
The developer and supporters of The Rise argue that the revised project still represents an unusually large addition to Cupertino's housing supply.
The complete redevelopment continues to call for approximately:
- 2,669 homes overall
- 356 affordable homes
- a substantial amount of retail and neighborhood-serving commercial space
- parks and publicly accessible open space
Supporters also emphasize the project's location near major employment centers and argue that adding a large amount of housing near jobs can create a more walkable community and provide additional housing choices in a city where new development opportunities are limited.
From this perspective, modifying the development to reflect current economic and legal conditions is preferable to allowing the former Vallco site to remain stalled or largely undeveloped.
What Critics of the Affordable Housing Reduction Argue
Critics focus on the magnitude of the change.
A project that originally proposed 1,201 affordable homes is now expected to provide approximately 356. For affordable housing advocates and some Cupertino residents, that represents the loss of a rare opportunity to create a very large concentration of below-market housing near major Silicon Valley employers.
Critics have also raised broader questions about:
- whether changes to state housing law allowed commitments envisioned under earlier versions of the project to be substantially reduced,
- whether the final development will contain the right balance of market-rate and affordable housing,
- traffic and infrastructure impacts,
- and how large redevelopment projects should balance financial feasibility with public benefits.
The disagreement is therefore about more than the number 356. It reflects a larger Silicon Valley debate about how cities can increase housing production while also creating housing affordable to households across a broad range of incomes.
Does The Rise Still Include Affordable Housing?
Yes. The current plan includes approximately 356 affordable homes across the complete Rise redevelopment.
Town Square West is planned to contain 232 affordable rental homes. These are separate from its 744 market-rate rentals and 393 planned for-sale homes.
The controversy is therefore not about affordable housing disappearing from The Rise. It is about the substantial reduction in affordable housing compared with earlier versions of the redevelopment.
Why The Rise Affordable Housing Debate Matters for Cupertino
The Rise is large enough to influence Cupertino's housing market and physical development for decades.
If completed substantially as planned, approximately 2,669 additional homes on the former Vallco property would represent a major increase in the city's housing inventory while creating an entirely new mixed-use district.
The project could also become an important California case study involving:
- SB 35 and streamlined housing approvals,
- affordable housing requirements,
- state versus local control over housing development,
- post-pandemic mixed-use development economics,
- and the redevelopment of aging suburban shopping centers.
For Cupertino residents and future homebuyers, the consequences are more immediate. The project could change housing choices, retail activity, traffic patterns and the character of the area surrounding the former Vallco Mall site.
What Happens Next at Town Square West?
Town Square West continues to advance through the development and permitting process. Construction activity and infrastructure work are important milestones to watch as the project moves toward vertical development.
For the 393 planned market-rate ownership homes, several important details have not yet been publicly announced, including individual floor plans, pricing, HOA dues, deposit requirements, the sales-center opening and the schedule for individual home releases.
Those details will become increasingly important as Town Square West moves from planning and infrastructure into residential construction.
For current construction and entitlement information, see the latest The Rise Cupertino and Town Square West updates.
Frequently Asked Questions About Affordable Housing at The Rise
How many affordable homes are currently planned at The Rise?
The current plan calls for approximately 356 affordable homes across the complete Rise redevelopment, which is planned for approximately 2,669 homes overall.
How many affordable homes are planned at Town Square West?
Town Square West is currently planned for 232 affordable rental homes. The phase is planned for 1,369 homes overall, including 393 for-sale homes and 744 market-rate rentals.
Were 1,201 affordable homes originally planned at The Rise?
Yes. The original 2018 SB 35 project proposed approximately 2,402 residential units, including approximately 1,201 affordable homes.
Where does the 890 affordable-home number come from?
A later version of The Rise increased the overall residential count to approximately 2,669 homes while identifying approximately 890 homes as affordable. That figure reflected the affordability calculation applied to the project's base residential units under the rules applicable to that version of the project.
Are the 232 affordable Town Square West homes for sale?
No. The 232 affordable homes currently planned within Town Square West are rental homes. They are separate from the 393 market-rate homes planned for purchase.
Why did the affordable housing requirement change?
The project has evolved through several modifications, and California's SB 35 statute has also changed. Amendments affecting certain large projects submitted before January 1, 2019 changed the affordability threshold that can apply to qualifying base residential units. Project economics and changes to the overall development program have also played a role in how The Rise has evolved.
About Bruce Wagg
Bruce Wagg tracks The Rise, Town Square West and other major Cupertino developments with a particular focus on what changes in planning, construction and housing supply mean for local homeowners and future buyers.
For the complete redevelopment overview, visit the Bruce Wagg guide to The Rise at Town Square West. Buyers interested in the future market-rate ownership homes can also follow The Rise homes for sale and buyer updates.
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