Sunnyvale's Cityline Enters New Phase of Development
A critical economic development goal for the City of Sunnyvale has been to transform the partially built Sunnyvale Town Center, now called Cityline, into a dynamic and unique downtown core. Recent updates in the news reveal the transformation has hit exciting milestones. Phase 1 of the mixed-use project is nearing completion; substantial retail has been completed with additional tenant announcements last week (Ulta Beauty, Kids Care Dental & Orthodontics and Xfinity will be joining anchors Whole Foods and AMC theaters, along with restaurants Pacific Catch and Urban Plates).
On the residential side, 198 apartments have opened and are fully leased at The Flats complex, while a second phase of development is underway with an additional 272 apartments soon to be available. Each phase includes affordable units. The Developer, Sares Regis, is currently securing entitlements to proceed with the project’s third and final phase which will include office, ground floor retail and more residential units.
KMA has supported the City’s review of the developer’s proposal by conducting a market and fiscal analysis to ensure that mix of land uses is realistic and meets the City’s economic development objectives. KMA has also prepared a financial pro forma analysis to inform the City's negotiations with the developer regarding the development agreement for the next phase of the project.
The Cityline project is emerging not only as a success story but as place for civic pride. Upon full build out the 36-acre development will include a vibrant mix of residential, retail, office and a public plaza.