Sand Hill Property Co. has hired a new affordable housing guru as the Silicon Valley developer prepares to dig in on a massive new mixed-use, housing-heavy project that will replace Cupertino’s Vallco Shopping Center.
Candice Gonzalez will become Sand Hill’s chief housing officer and managing director when she leaves her longtime position as president and CEO at affordable housing developer Palo Alto Housing in early September. Sand Hill is slated to start work on the controversial redevelopment of the dying Cupertino mall the same month.
“I am passionate about housing for all income levels and my new position at Sand Hill Property Co. will allow me to continue to make a positive impact in the housing world,” Gonzalez said in a statement Monday.
“I am confident that Palo Alto Housing will continue to be a strong force in the affordable housing industry.” Last month, Sand Hill received key city approval for the development that will replace Vallco mall. The project is the first in Silicon Valley to invoke SB 35, a brand-new state housing law that streamlines city approvals for qualifying developments that include residential units.
One of the key state requirements of the law calls for half of the proposed 2,402 homes in the development, known as Vallco Town Center, to be considered affordable to people making less than the median income in the area. The 58-acre project will also include 400,000 square feet of retail and 1.81 million square feet of office space. Read more from bizjournals.com…
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