City approves The Rise latest plan

The Rise —

Dear Neighbors,

We are reaching out today with good news on our progress at The Rise. On Friday we received approval from the City of Cupertino of the refined plans we submitted in December, as we endeavor to transform the 50-acre former Vallco mall site into a vibrant new city center with significant new housing along with retail, work spaces and public parkland and open space.

The moment was covered by major local news outlets:

Silicon Valley Business Journal, Cupertino gives OK to redevelopment plans for former Vallco Mall

San Jose Spotlight, Cupertino Greenlights Housing Development at Former Vallco Mall

San Jose Mercury News, Huge new Cupertino neighborhood slated to rise atop old mall gets city OK

The approval of our latest plan update represents an important step in the ongoing dialogue with the City to see that the project meets current community needs while evolving in response to rapidly changing economic conditions.

The market forces that have continued to impact projects across the Bay Area over the past 18 months have pushed us all to new levels of creativity and adaptability, and surfaced an even deeper commitment to working together to ensure this project is successful. We are grateful for the ideas and contributions the City has brought to this process and for the spirit of collaboration that helps to secure our resilience as a community today and, critically, as we guide The Rise through these uncertain times and into the future. With long term developments such as this, flexibility is key.

Last week's approval clears the way for permits to be issued and construction to be under way in the coming months. We will continue to keep you up to date on general progress news via this newsletter. If you have not already done so, please be sure you are signed up at to stay informed about upcoming construction activity.

Thank you for your ongoing support.

Best wishes,

Reed Moulds

Managing Director, The Rise Project Executive


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