The Rise Cupertino Live Updates — Town Square West Construction & Development News
Last updated: May 2026. This page tracks construction milestones, permit activity, affordable housing progress, and real estate implications for The Rise at Town Square West — the redevelopment of the former Vallco Mall site in Cupertino near Apple Park.
Latest Update — May 2026
Vertical construction for Town Square West is now targeted to begin before the end of 2026, following continued entitlement progress and permit advancement. In February 2026, the City of Cupertino approved the third modification to The Rise’s SB 35 application — a significant procedural milestone that clears the way for construction mobilization. Local reporting in April 2026 confirmed the construction timeline is on track.
The first phase in active permitting is the 232-unit affordable apartment building developed in partnership with Eden Housing. A construction permit application has been submitted. First occupancy across the broader Town Square West phase is expected around 2028.
What Is The Rise Cupertino?
The Rise is one of the largest mixed-use redevelopment projects currently underway in Silicon Valley. Located on the former Vallco Mall site at the intersection of Stevens Creek Boulevard and Wolfe Road in Cupertino — adjacent to Apple Park — the project will transform a long-vacant retail property into a new walkable urban district with housing, retail, restaurants, parks, and public gathering space.
The project is being developed by Sand Hill Property Company, with Eden Housing delivering the affordable residential component. When fully built out, The Rise is planned to include:
- 2,669 total residential units across all phases
- 356 affordable homes in the full project plan
- Approximately 200,000 square feet of retail, dining, and entertainment
- 3+ acres of parks and public open space
- A pedestrian-oriented mixed-use neighborhood connected to Apple Park and Cupertino’s existing street grid
Read the full Rise Cupertino guide — timeline, affordable housing, condos, and market impact
What Is Town Square West?
Town Square West is the first major livable phase of The Rise. It is the portion of the project currently in active construction permitting and will deliver the project’s first residents and retail tenants. Town Square West by the numbers:
- 1,369 total housing units — 232 affordable rental homes, 744 market-rate rentals, and 393 for-sale homes
- ~202,000 square feet of retail and restaurant space — nearly 90% of the project’s total retail footprint
- 3+ acres of public parkland connecting plazas, playfields, and pedestrian trails
- $5 million in direct community benefit payments to the City of Cupertino
- 500,000 square feet of office space removed from earlier project versions, reducing building height and projected traffic
Construction Timeline
1976
Vallco Fashion Park opens as one of Silicon Valley’s major regional shopping malls.
2010s
Anchor tenant departures accelerate. Mall vacancy rises sharply. Redevelopment discussions begin.
2018
Sand Hill Property Company files for approval under SB 35, California’s streamlined housing approval law, after years of local planning impasse.
2019–2022
Project design revisions continue amid community input, legal challenges, and changing office market conditions. Office space is significantly reduced from earlier proposals.
2023–2024
Entitlements advance. The project receives a Silicon Valley Business Journal Structures Award in November 2024.
February 2026
The City of Cupertino approves the third modification to The Rise SB 35 application — a key procedural milestone clearing the path to construction mobilization.
April–May 2026
Construction permit application submitted for the first 232 affordable homes. Local reporting confirms vertical construction targeted before end of 2026.
2028 (projected)
First homes and retail tenants expected to open at Town Square West.
Affordable Housing at Town Square West
The first residential building to advance at Town Square West is a 232-unit affordable apartment community developed in partnership with Eden Housing, a nonprofit affordable housing developer with decades of high-quality affordable communities across Silicon Valley. Key details:
- All 232 units are deed-restricted affordable
- Approximately 50% are two- and three-bedroom family-sized homes
- Units reserved primarily for households earning 50% of Area Median Income (AMI) or below
- The City of Cupertino will oversee placement procedures using established compliance guidelines
Prospective renters should monitor City of Cupertino announcements and Eden Housing’s website for application information as construction progresses. These units will not be available through standard rental channels.
Why The Rise Matters for Cupertino Real Estate
Cupertino has historically had some of the most constrained housing inventory in Silicon Valley — single-family home resale inventory typically measures in the dozens at any given time, and new construction has been almost nonexistent for years. The Rise addresses that directly.
For existing homeowners, the project’s long-term effect is expected to be modestly positive. The walkability, retail, and park amenities it adds near Stevens Creek and Wolfe increase the area’s desirability. The removal of 500,000 square feet of office space from earlier plans reduces projected traffic impact relative to what had originally been approved.
For new construction buyers, the 393 for-sale homes in Town Square West represent essentially the only new-construction ownership opportunity in Cupertino for the foreseeable future — and one of the only chances to buy new in a top-ranked Cupertino school district zone. Specific pricing and sales timing have not yet been announced.
For renters, 976 new units — 232 affordable and 744 market-rate — represent meaningful new supply in a rental market that has operated near zero vacancy for years.
Nearby neighborhoods most likely to see long-term influence from The Rise include Rancho Rinconada, Cupertino Village, and residential areas surrounding Apple Park along the Stevens Creek corridor.
Explore the full 95014 Real Estate & Development Guide
Frequently Asked Questions — The Rise Cupertino
When will Town Square West construction begin?
A construction permit application has been submitted for the first 232-unit affordable residential building. Vertical construction is targeted to begin before the end of 2026, following the February 2026 approval of the third SB 35 modification by the City of Cupertino. First occupancy across the broader Town Square West phase is projected around 2028.
How many homes are planned at The Rise?
The full Rise project plans include approximately 2,669 residential units across all phases. Town Square West, the first phase, will deliver 1,369 of those units — comprising 232 affordable rentals, 744 market-rate rentals, and 393 for-sale homes.
Will there be affordable housing at The Rise?
Yes. The full project includes approximately 356 affordable homes across all phases. The first 232 affordable units are the furthest advanced, with a construction permit application submitted and construction expected before the end of 2026. They are being delivered by Eden Housing and will be deed-restricted for households earning 50% of Area Median Income or below.
Where is The Rise located in Cupertino?
The Rise is located on the former Vallco Mall site at the intersection of Stevens Creek Boulevard and Wolfe Road in Cupertino, California 95014, adjacent to Apple Park. The site is bounded by Vallco Parkway to the north and Perimeter Road to the west.
Will The Rise include condos for purchase?
Yes. Town Square West includes 393 for-sale homes in its residential program. These represent a rare new-construction ownership opportunity in Cupertino, which has had very limited new-construction inventory for years. Specific product types, floor plans, pricing, and sales timelines have not yet been publicly announced.
What is SB 35 and how does it apply to The Rise?
SB 35 is a California state law that provides a streamlined ministerial approval process for housing projects that meet specific affordability and zoning criteria, bypassing some local discretionary review. Sand Hill Property Company used SB 35 to advance The Rise after years of local planning impasse. The City of Cupertino has approved multiple modifications to the SB 35 application as the project has evolved, most recently in February 2026.
Work With a Local Cupertino Real Estate Expert
The Rise at Town Square West is the most significant new housing opportunity in Cupertino in decades. Bruce Wagg (Keller Williams, DRE# 01760054) is tracking the project’s development timeline, for-sale release schedule, and what it means for buyers across the 95014 market. Learn more about Bruce Wagg or call (669) 202-7777 to discuss Cupertino new construction and resale opportunities.