On Wednesday May 6th, a Santa Clara Superior Judge upheld the City of Cupertino's September 2018 approval of the Vallco Town Center, concluding the project proposed by Sand Hill Property Company is in conformance with SB 35 guidelines and therefore eligible to proceed.  SB 35 is part of a landmark package of housing bills enacted in 2017 to address the affordable housing shortage in California.  SB 35 facilitates the expedited development of eligible projects, and the court ruling allows the redevelopment of the former Vallco Mall to move forward.  

Keyser Marston was initially retained by Sand Hill Property Company to evaluate the fiscal impacts of the proposed Vallco Town Center Specific Plan to the City of Cupertino, local school districts and other taxing agencies.  The analyses undertaken also addressed direct, indirect and induced economic impacts to be generated during both the construction and operation of the project.  Following a defeated ballot measure, KMA continued evaluating the fiscal impacts of various alternative programs, including Sand Hill's program submitted in conformance with SB 35.

The approved Vallco Town Center program includes:

• 2,402 residential units of which 50% will be below market-rate;
• 1.98 million square feet of office space;
• 286,000 square feet of retail uses