Town Square West Is Changing Cupertino: What Buyers Should Know About The Rise
For decades, the former Vallco Mall site was one of the most recognizable properties in Cupertino. What was once a regional shopping destination eventually became a largely vacant property at one of the most prominent intersections in the city.
That is now changing.
The former Vallco site is being transformed into The Rise, an enormous mixed-use redevelopment that will ultimately bring thousands of new homes, retail, restaurants, offices, parks and public gathering spaces to the heart of Cupertino.
The first major residential district, Town Square West, is beginning to move from years of plans and approvals toward actual development.
For Cupertino homeowners and future buyers, this is much more than another construction project. It has the potential to change how people live, shop and move through central Cupertino — and could create a type of walkable residential environment that has historically been relatively rare in the city.
What Is The Rise in Cupertino?
The Rise is the redevelopment of the former Vallco Mall property near Stevens Creek Boulevard and Wolfe Road.
The current plan calls for approximately 2,669 homes across the full project, together with substantial retail, commercial space and public amenities.
Rather than rebuilding Vallco as another traditional shopping center, the project is designed as a mixed-use neighborhood where housing, shopping, dining, employment and open space are integrated together.
For a detailed overview of the entire redevelopment, including project history, housing and anticipated timelines, see my guide to The Rise at Town Square West in Cupertino.
Town Square West Will Be the First Major Neighborhood
Town Square West is particularly important because it is expected to become the first major residential phase of The Rise.
The current plan for Town Square West includes approximately 1,369 homes, consisting of a combination of market-rate rental housing, affordable housing and homes intended for individual ownership.
The district is also expected to include approximately 200,000 square feet of retail, dining and entertainment space, along with more than three acres of parks and public open space.
That combination could make Town Square West substantially different from the established residential neighborhoods surrounding much of Cupertino.
Instead of driving from a single-family neighborhood to restaurants, stores and other amenities, some future residents could have those destinations immediately outside their homes.
The Plans Are Still Evolving
One of the most important things to understand about The Rise is that a project of this scale does not remain static.
The plans have been revised multiple times as California housing laws, construction costs, financing conditions and demand for office space have changed.
That process continued in 2026.
In August, the City of Cupertino approved another partial plan modification involving Blocks 1 and 2. The changes included architectural revisions, modifications to loading areas and building form, additional residential parking and adjustments to retail and residential square footage.
These types of changes are worth following because they show that The Rise is no longer simply a conceptual redevelopment proposal. Increasingly, the discussion involves the details necessary to actually construct the buildings and infrastructure.
I maintain a separate The Rise Cupertino live updates page where I track permitting, construction activity and major project changes as they occur.
Housing May Be the Biggest Change
The sheer number of new homes proposed at The Rise makes it one of the most consequential housing developments in Cupertino history.
Cupertino is largely built out, and much of its housing consists of established single-family neighborhoods and older condominium and townhome communities.
That means there are relatively few opportunities to create hundreds of new residences in one location.
Town Square West changes that.
The first phase currently includes 393 planned for-sale homes, in addition to market-rate and affordable rental housing.
For buyers who want newer construction in Cupertino, that is significant.
At this stage, however, buyers should be careful about assuming specific prices, floor plans or release dates. Those details can change and many have not yet been publicly announced.
I am following those announcements closely because the eventual release of for-sale homes could create one of Cupertino's largest new-construction buying opportunities in years.
Affordable Housing Is Moving Forward Too
Affordable housing has also been one of the most closely watched components of the project.
Town Square West includes 232 affordable family rental homes, with an emphasis on larger units suitable for families.
The affordable-housing component has generated considerable discussion because the overall number of affordable homes planned for The Rise changed as the project evolved and California housing regulations were revised.
I covered that issue separately in The Truth About The Rise Affordable Housing Controversy.
Regardless of the debate surrounding the numbers, the first affordable residential component represents an important step toward turning years of planning into actual housing.
A More Walkable Side of Cupertino
Perhaps the most interesting long-term change is not simply the number of residences being built.
It is the type of neighborhood being created.
Cupertino has traditionally been a suburban community dominated by single-family neighborhoods, shopping centers and automobile-oriented streets.
Town Square West introduces a different model.
Housing will be located alongside shops, restaurants, parks and public spaces. Residents could potentially walk downstairs for coffee, dinner or groceries rather than getting into a car.
Combined with nearby Main Street Cupertino and other development along Stevens Creek Boulevard, The Rise could gradually create a much more active central district.
That evolution is one reason I consider The Rise part of a much larger story about Cupertino real estate, not simply a story about one construction site.
Buyers researching the wider market can explore my 95014 Real Estate and Development Guide, which looks at neighborhoods, housing, schools, major employers and development throughout Cupertino.
What Could The Rise Mean for Existing Cupertino Homeowners?
Whenever more than a thousand new homes are introduced into a market, homeowners naturally wonder whether the additional inventory will affect property values.
There is no simple answer.
New construction creates competition, particularly for existing condominiums and townhomes. At the same time, redevelopment can add restaurants, parks, shopping, streetscape improvements and other amenities that make the surrounding area more desirable.
The ultimate effect will depend heavily on what is built, the quality of the finished neighborhood, future pricing and the condition of the Cupertino housing market when the new residences begin reaching buyers.
I explored both sides of that question in greater detail in Will The Rise Affect Cupertino Home Values?.
Watching the Transformation Happen
One advantage buyers have today is the ability to watch the neighborhood develop almost from the beginning.
I have been documenting The Rise and other Cupertino development projects through photos, articles and on-site videos so buyers can see how these areas change over time rather than relying exclusively on renderings.
My Cupertino Development Videos page includes ongoing coverage of The Rise, Town Square West, the former Vallco property and other projects that could affect Cupertino housing.
The difference between the old Vallco site and what eventually occupies these blocks will be dramatic.
What Future Buyers Should Watch Next
For people interested in eventually purchasing a home at Town Square West, several developments will matter more than almost anything else:
Construction milestones. As individual residential buildings move farther through permitting and construction, projected delivery dates should become more meaningful.
For-sale housing details. Buyers will eventually need actual unit counts, floor plans, HOA information, amenities and ownership structures.
Pricing. No marketing estimate can replace an official pricing release from the developer.
Release and reservation procedures. Large new developments often establish registration lists or buyer-interest programs well before individual homes are available.
Retail announcements. The restaurants, shops and services that ultimately occupy Town Square West will play an important role in determining the character and desirability of the neighborhood.
These are the details I will continue watching.
The Beginning of a Different Cupertino
For people who remember Vallco Fashion Park, it can be difficult to imagine how dramatically this part of Cupertino could change.
The Rise is not simply replacing an old mall with new buildings.
If the development ultimately delivers on its broader vision, it will create thousands of residences and an entirely new mixed-use district in a city where large undeveloped sites are exceedingly rare.
Town Square West is where much of that transformation will first become visible.
For buyers considering Cupertino today — or those hoping to eventually purchase one of the new homes at The Rise — this is a project worth following long before the first sales center opens.
Bruce Wagg is a Bay Area real estate professional covering Cupertino housing, new construction and major development projects, including The Rise and Town Square West.
For additional neighborhood information, homes for sale and local market coverage, visit the Cupertino real estate guide or follow the latest The Rise and Town Square West updates.