Cupertino Square Shopping Center

The beer is coming to Cupertino Square, Hofbräu Beer Hall – 400 seat beer hall and restaurant like in Munich. Cupertino Square developers are trying to capitalize on Cupertino's rich population, which the city said has an average household income of more than $150,000. Unfortunately for developers Cupertino residents don't behave like typical affluent customers. This is a very family oriented community and the expensive housing sucks up most of their earned incomes. I'm not surprised the ice skating rink, AMC Cupertino Square 16, and Strike Cupertino bowling alley are doing well. I suspect Target is the most successful retail establishment in the area. If they really want to make a killing, they should go after more discount retailers and businesses that appeal to families, for example Costco. There is a market for people going out for after work drinks like Outback Steakhouse, Elephant Bar Restaurant and BJ's Restaurant & Brewhouse, but I doubt enough of those after-work drinkers will go to the Hofbräu Beer Hall in Cupertino Square to keep it in business.

Cupertino renting

I just noticed on craigslist.com that someone is renting condos in brand new Villagio and Metropolitan complexes. Renting 2 bedrooms and 2 bathrooms would cost $2095 in Villagio and $2250 in Metropolitan. I was a little bit surprise on the prices, because Villagio schools - Eaton Elementary (API score - 955), Lawson middle (API 958) is much better and located much closer to community than Metropolitan ones - Sedgwick Elementary school (API 876), Hyde middle school (API 828). Perhaps location of Cupertino High school and newly opened "AMC Cupertino Square 16" in one step from Metropolitan condos raises the rent price.

Update:
Mike asking in comments:

I wonder how can they cover the mortgage by renting 2 bedroom for only $2100 at Villagio since 2bed selling price at Villagio is more than $600,000. How much downpay they have to make?

The median sales price for two-bedroom condo units in Metropolitan (19503 Stevens Creek Blvd, Cupertino) community is $600,000. The similar unit in Villagio (20500 Town Center Lane, Cupertino) is a tad pricier - $650,000. The condo owner need to put as down payment at least $300,000 to cover interest only mortgage and HOA fees (Villagio - $410, Metropolitan - $350) , but still it would take a few year to get positive cash flow.

Vallco becomes Cupertino Square

According to Cupertino city history:

A major milestone in Cupertino's development was the creation by some of the city's largest landowners of VALLCO Business and Industrial Park in the early 1960's. Of the 25 property owners, 17 decided to pool their land to form VALLCO Park, 6 sold to Varian Associates, a thriving electronic firm founded by Russell Varian, and 2 opted for transplanting to farms elsewhere. The name VALLCO was derived from the names of the principal developers: Varian Associates and the Leonard, Lester, Craft and Orlando families.

Last week Vallco General Manager Mike Rohde explained the Cupertino City Council that the mall plans a major overhaul starting in March that also will include a name change from Vallco to Cupertino Square. The current mall's owners, Landmark Properties Management, plan two hotels on the site, a 16-screen AMC Cupertino movie theater, new restaurants and a 38,000-square foot upscale bowling alley.