Contents 1 History 2 Current status 3 Nearby developments 4 References 5 External links

History[edit] The mall opened in 1979 on a 36-acre site[1] bounded by Mathilda Avenue, Washington Avenue, Sunnyvale Avenue, and Iowa Avenue and comprising most of Sunnyvale's downtown, except for one block of its main street, Murphy Avenue.[2][3] After a campaign by Fern Ohrt, six redwood trees that had surrounded the first Sunnyvale city hall were preserved in an open space at the center of the mall.[4][5] Over the years, the development went through a series of owners who either defaulted on loans or were sued for breach of contract. During that time, the mall fell into decline with changing tastes of shoppers and the emergence of newer and larger competitors. By 2002, the mall, then known as WAVE (Walking and Village Entertainment), was largely untenanted except for the three anchor stores, Macy's, Penney's, and Target, and the city decided to replace it with a modern version of a traditional downtown, including stores, restaurants, a movie theater, and high-rise apartment buildings.[2] Redwood Square was to be a central plaza incorporating the redwood trees.[4] Finally, in 2007, new entities named "Downtown Sunnyvale Mixed Use LLC" (DSMU) and "Downtown Sunnyvale Residential LLC" (DSR) took over the mall. DSMU and DSR were partnerships between Silicon Valley developer Peter Pau's Sand Hill Property Co. (which owned about 5%), and RREEF, a real-estate management business owned by Deutsche Bank (which owned the remaining 95%).[6] DSMU/DSR's goal was to redevelop the mall into a high-end retail, residential and office development similar to San Jose's successful Santana Row.[7][8] DSMU/DSR took out a loan of $108.8 million from Wachovia Bank; Wachovia was later acquired by Wells Fargo.[9] By June 2009, with the mall demolished and Target having been replaced by a new store but the other new buildings incomplete, DSMU/DSR defaulted on the loan. Pau said that the decision to default was made by RREEF without his consent.[9] After the default, Wells Fargo started foreclosure proceedings. A foreclosure auction in August 2011 attracted no bidders, so Wells Fargo took possession of the property itself.[1][7] The bank then attempted to sell the land to another developer, but this attempt was thwarted by a lawsuit from Pau,[9] and further development continued to be stymied by litigation between Pau and Wells Fargo.[10][11][12][13] In May 2012, the City of Sunnyvale issued a press release accusing Pau of having filed "delaying lawsuits that have served little purpose other than to hold the project hostage",[9][14] and claiming that "a nationally-recognized development team was set to come in and finish the project in 2011 ... until the barrage of lawsuits blocked their entry".[14] In February 2013, further appeals were filed by both Pau and Wells Fargo; Pau's attorney estimated that the appeals would delay resolution of the case by at least two years.[15]

Current status[edit] As of January 2015[update], apart from Target and Macy's the only active tenants on the site are Apple and Nokia, which have occupied new office space along Mathilda Ave.[15] The remaining retail and entertainment space is still under construction and the residential units are all unfinished. The California Court of Appeals rejected Pau's two appeals in January and May 2015.[16][17] Pau filed an appeal to the California Supreme Court,[18] which declined to review the decision on August 12, 2015, effectively ending the litigation.[19] On November 18, 2015, Wells Fargo announced that it intended to sell the mall to an ownership group made up of J.P. Morgan Asset Management, Sares Regis Group and Hunter Properties. That announcement triggered a 20-day review period during which the Sunnyvale City Council evaluated the proposed ownership group. On December 10, 2015, the Council voted to acknowledge that the new ownership group met the necessary criteria, effectively allowing the sale to proceed.[20][21] In July 2016, the city announced an updated agreement with the developer under which the project would be modified: some two-story retail buildings around Redwood Square, for which only the steel framing was erected, would no longer be built, but the project continues to include high-rise residential, restaurant, and retail components and a movie theater.[22] In September 2016, the new development team closed escrow and took possession of the project,[23] with a groundbreaking scheduled for October 2016 [24] In October 2017, the city announced that AMC Theatres had agreed to lease the theater space for a 12-screen movie theater. [25]

Nearby developments[edit] The Town and Country Village retail buildings across Washington Avenue from the site were demolished by the end of April 2010[26] and in 2013–14 were replaced with high-rise apartment buildings with ground-floor retail, developed by BRE and Carmel Properties.[27]

References[edit] ^ a b Wilson, Alia (2011-08-18). "No bidders for Sunnyvale Town Center means project in hands of Wells Fargo". Sunnyvale Sun. Retrieved 2011-08-11 – via San Jose Mercury News.  ^ a b Hoff, Nick (2002-09-21). "When suburban goes urban". InTheFray Magazine. Retrieved 2010-03-02.  ^ Mullins, Robert (2005-02-25). "Developers bid for site of failed Sunnyvale shopping center". Silicon Valley / San Jose Business Journal. Archived from the original on 2007-12-03.  ^ a b Koning, Ben; Metz, Anneke; Sunnyvale Historical Society (2010). Sunnyvale. Images of America. Charleston, South Carolina: Arcadia. ISBN 9780738574356.  ^ "How trees survived Silicon Valley". San Jose Mercury News. 2010-04-29.  ^ Parsons, Scott (March 2007). "Sunnyvale Town Center - The Unauthorized Guide". Archived from the original on 2010-03-22.  ^ a b "Sunnyvale's Town Center Goes on Sale" (broken link). Bay Citizen.  ^ Simonson, Sharon (2007-02-07). "New owner, revised plans OK'd for Sunnyvale's downtown". Silicon Valley Business Journal.  ^ a b c d "Tensions Flare Over Stuck Sunnyvale Project". Wall Street Journal.  ^ Conrad, Katherine (2009-04-10). "Sunnyvale Town Center on hiatus". Silicon Valley / San Jose Business Journal. Retrieved 2010-03-02.  ^ Conrad, Katherine (2010-01-29). "Sunnyvale Town Center gets buttoned down as options are weighed". Silicon Valley / San Jose Business Journal. Retrieved 2010-03-02.  ^ Carney, Tiffany (2010-01-20). "Stalled Sunnyvale Town Center is focus of city's five-year plan". Sunnyvale Sun. Retrieved 2010-03-02.  ^ "Sunnyvale Town Center". Retrieved 2010-03-02.  ^ a b "Sunnyvale Town Center Update" (PDF) (pdf). City of Sunnyvale. 2012-05-24.  ^ a b Simonson, Sharon (2013-02-26). "New Appeals Threaten to Stall Sunnyvale Town Center Redevelopment For Years". The Registry. p. 2. Retrieved 2016-07-12.  ^ "Downtown Sunnyvale Residential v. Wells Fargo Bank CA6" (PDF) (pdf). Court of Appeal of the State of California. 2015-01-20.  ^ "Downtown Sunnyvale Residential v. Wells Fargo Bank CA6" (PDF) (pdf). Court of Appeal of the State of California. 2015-05-19.  ^ Donato-Weinstein, Nathan (2015-05-19). "Sunnyvale Town Center ruling deals blow to Pau's Sand Hill; appeal mulled". Silicon Valley Business Journal.  ^ Donato-Weinstein, Nathan (2015-08-13). "Sunnyvale Town Center officially for sale as litigation cloud lifts". Silicon Valley Business Journal.  ^ "Proposed New Development Team Achieves Key Town Center Milestone" (PDF) (pdf). City of Sunnyvale. 2015-12-10.  ^ Kezra, Victoria (2015-12-18). "Sunnyvale Town Center's new owners get council's vote of confidence". Sunnyvale Sun – via San Jose Mercury News.  ^ Kezra, Victoria (2016-07-09). "Sunnyvale Town Center: Updated agreement could lead to completion before 2021". San Jose Mercury News.  ^ Druzin, Bryce (2016-09-29). "Sunnyvale Town Center deal closes for $100 million". Silicon Valley Business Journal.  ^ "Downtown Development".  ^ Avalos, George (2017-10-31). "AMC Theaters strikes deal for downtown Sunnyvale 12-screen cinema". San Jose Mercury News.  ^ Dugan, John (2010-12-30). "Sunnyvale says so long to 2010". San Jose Mercury News.  ^ Wilson, Alia (2013-04-30). "Restaurants coming to downtown Sunnyvale". Sunnyvale Sun – via San Jose Mercury News. 

External links[edit] Downtown development: Town Center, City of Sunnyvale 2016 Modified and Restated Amended Disposition and Development and Owner Participation Agreement, City of Sunnyvale (downloadable pdf) Attachments to resolutions of 6-30-2016, City of Sunnyvale Coordinates: 37°22′33″N 122°01′54″W / 37.37575°N 122.03166°W / 37.37575; -122.03166 v t e Shopping malls in California Northern California Alameda Bay Street Emeryville Bayfair Center Eastmont Town Center Fremont Hub NewPark Mall Oakland City Center Pacific Commons Rockridge Market Hall Skywest Commons Southland Mall Stoneridge Shopping Center Union Landing Shopping Center Westgate Center Contra Costa Abella Center Broadway Plaza El Cerrito Plaza Hilltop Mall Macdonald 80 Shopping Center Pacific East Mall Somersville Towne Center Sunvalley Shopping Center Willows Shopping Center Fresno Fashion Fair Mall River Park Marin Mall at Northgate Town Center at Corte Madera Village at Corte Madera Monterey Del Monte Center Northridge Mall Sacramento Arden Fair Mall Downtown Commons Florin Mall Florin Towne Centre Sunrise Mall San Francisco Metreon Stonestown Galleria Union Square Union Street Stores Westfield San Francisco Centre San Mateo Hillsdale Shopping Center Serramonte Center Shops at Tanforan Westlake Shopping Center San Joaquin Sherwood Mall Weberstown Mall West Valley Mall Santa Clara Eastridge Great Mall of the Bay Area Mayfield Mall PruneYard Shopping Center San Antonio Shopping Center Santana Row Stanford Shopping Center Sunnyvale Town Center Vallco Shopping Mall Westfield Oakridge Westfield Valley Fair Westgate Mall Sonoma Coddingtown Mall Montgomery Village Santa Rosa Plaza Elsewhere Bayshore Mall Capitola Mall Chico Mall Solano Town Center Vintage Faire Mall Visalia Mall Westfield Galleria at Roseville Yuba Sutter Mall Southern California Los Angeles Los Angeles Proper Baldwin Hills Crenshaw Plaza Beverly Center Brentwood Country Mart El Mercado de Los Angeles Farmers Market FIGat7th Grove at Farmers Market Hollywood and Highland Center Promenade at Howard Hughes Center West Hollywood Gateway Project Westfield Century City Westside Pavilion San Fernando Valley Americana at Brand Burbank Town Center Crossroads of the World Commons at Calabasas Fallbrook Center Glendale Galleria Northridge Fashion Center Sherman Oaks Galleria Universal CityWalk Westfield Fashion Square Westfield Promenade Westfield Topanga Elsewhere Antelope Valley Mall Cerritos Towne Center Del Amo Fashion Center Eastland Center Edgemar Fisherman's Village Hawthorne Plaza Shopping Center Lakewood Center Long Beach Plaza Los Cerritos Center Malibu Country Mart Old Pasadena Paseo Colorado Plaza México Plaza West Covina Puente Hills Mall Quad at Whittier Santa Monica Place Shops at Montebello South Bay Galleria SouthBay Pavilion Stonewood Center Third Street Promenade Westfield Culver City Westfield Santa Anita Westfield Valencia Town Center Whittwood Town Center Orange Anaheim GardenWalk Anaheim Plaza Bella Terra Brea Mall Buena Park Downtown Downtown Disney Fashion Island Irvine Spectrum Laguna Hills Mall MainPlace Mall The Market Place Outlets at Orange Shops at Mission Viejo South Coast Plaza Village at Orange Westminster Mall Riverside Desert Fashion Plaza Galleria at Tyler Main Street Pedestrian Mall Moreno Valley Mall Promenade In Temecula Westfield Palm Desert San Bernardino Barstow Mall Carousel Mall Citrus Plaza Inland Center Mall of Victor Valley Montclair Plaza Ontario Mills Redlands Mall Victoria Gardens San Diego Chula Vista Center Fashion Valley Mall Grossmont Center Las Americas Premium Outlets Otay Ranch Town Center Parkway Plaza Seaport Village Westfield Carlsbad Westfield Horton Plaza Westfield Mission Valley Westfield North County Westfield Plaza Bonita Westfield UTC Ventura Collection at RiverPark The Oaks Pacific View Mall Simi Valley Town Center Elsewhere Imperial Valley Mall La Cumbre Plaza Valley Plaza Mall Retrieved from "" Categories: Shopping malls in the San Francisco Bay AreaShopping malls established in 1979Defunct shopping malls in the United StatesSunnyvale, CaliforniaHidden categories: Articles containing potentially dated statements from July 2016All articles containing potentially dated statementsArticles containing potentially dated statements from January 2015Coordinates on Wikidata

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