""The planning set submitted to the City entails necessary modifications to project approvals to make The Rise financially feasible and justify the investment necessary for the construction of buildings and proposed community amenities,""
""a change driven by the shift to larger family units, updated con"
""financially feasible.""
Sand Hill Property Company delivered a revised plan to Cupertino's city manager on Nov. 26 and the city has 60 days to respond. Total housing at The Rise remains 2,669 homes covering 4.8 million square feet, but below-market-rate homes would drop from 890 to 356. Office space would fall from 2 million square feet to 1.5 million square feet, eliminating two office buildings and reducing two office towers (one from 18 floors to eight, another from 12 floors to seven). Retail remains about 225,000 square feet. Construction of the first buildings is expected to start early next year. Cupertino must add 4,588 homes by 2031, including 1,880 affordable units, and the reductions will make meeting state-mandated housing goals more difficult. The project has experienced nearly a decade of litigation, referendums, revisions and lobbying in Sacramento.
Read at San Jose Spotlight
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