I’ve been selling homes in Cambrian for more than 20 years, and there’s one question I get more than almost any other: “What’s going on with Cambrian Park Plaza?”
For a long time, the honest answer was “nothing.” The city approved a redevelopment plan in 2022, and then the site sat there for nearly four years.
That just changed. The developer has released new construction plans with an actual demolition window. But there’s a catch that every Cambrian homeowner should understand, because the neighborhood may get something very different from what it was promised, and in a very different order.
Watch the full breakdown below, then keep reading.
In this video, I walk through the history of Cambrian Park Plaza, why the 2022 redevelopment plan stalled, and Kimco’s new phasing plan that puts homes ahead of the shops, restaurants, and park.
What is happening with Cambrian Park Plaza right now?
Kimco Realty, the owner of Cambrian Park Plaza, has revised its redevelopment plan so the homes get built first. The shops, restaurants, and most of the community park have been moved to a later phase with no firm construction date.
The city has signaled support for the change, and the revised phasing plan is expected to go up for formal approval in late 2026. If permits come through on schedule, demolition of the existing shopping center could begin in late 2027 or early 2028.
Why was Cambrian Park Plaza built in the first place?
Back in the 1950s, much of Cambrian was still orchards. One of the landowners, Paul Schaeffer, saw that all the new families moving into the homes replacing those orchards would need somewhere to shop.
So in 1953 he built Cambrian Park Plaza, and he designed it to feel like a small town. Courtyards, brick walkways, little storefronts, and the carousel sign at Union and Camden that many locals now consider a landmark.
For decades, it was the center of the neighborhood. The post office, a hardware store, an ice cream parlor, and Cambrian Lanes bowling alley were all there. Cambrian never had a real downtown, so this was it. That’s why people have been so protective of it.
How did the plaza change hands?
- 1980s: The plaza was already struggling, with businesses closing and buildings aging.
- 2015: The Schaeffer family sold the 18-acre site to Weingarten Realty for nearly $50 million.
- 2016: Santa Clara County designated the carousel sign a historic landmark after residents pushed to save it.
- 2021: Kimco Realty acquired Weingarten and became the new owner.
What did San Jose approve in 2022?
Neighbors, led in part by a group called Friends of Cambrian Park, didn’t want just another strip center. They pushed for restaurants, outdoor gathering spaces, and a walkable village along the lines of the Pruneyard in Campbell.
In August 2022, the San Jose City Council unanimously approved the project’s environmental impact report and pre-zoning, and the following month it voted unanimously to annex the site from Santa Clara County into the city (San José Spotlight).
According to the City of San Jose’s project page and the state’s CEQA record, the approved plan includes:
- 305 apartments above roughly 51,000 square feet of retail and restaurant space
- 48 single-family homes with 27 accessory dwelling units
- 25 townhomes
- A senior assisted living facility
- A hotel
- Over 10 acres of open space, including a public park and a dog park
It was supposed to give Cambrian something it never really had: a downtown of sorts.
Why did the Cambrian Park Plaza project stall?
According to Kimco, the original project stopped making financial sense. Construction costs went up and interest rates climbed.
But the bigger issue was sequencing. The original approval required the commercial portion to be built before the homes, or at the same time. That meant Kimco would have to spend millions on demolition, utilities, roads, and commercial buildings before selling a single house.
So Kimco went back to the city and asked to flip the order. Build the homes first, start generating revenue, and fund the rest later.
Here’s why that matters. According to Kimco, that one change cuts its upfront costs by roughly $35 million. It also means the homes can move forward without waiting on the shops and restaurants.
What is the new construction order at Cambrian Park Plaza?
Kimco has divided the project into phases, and the order tells you a lot:
- Phase 1: 48 single-family homes and 27 accessory dwelling units
- Phase 2: 25 townhomes, and the carousel sign relocates to Union Avenue
- Phase 3: Grading and underground utility work, then senior living
- Phase 4: The apartments, the shops and restaurants, and the rest of the park
- Final: The hotel
Notice where the “village” part landed. The pieces that made neighbors support this project in the first place are now at the back of the line.
When does demolition of Cambrian Park Plaza actually begin?
This is the question I hear most, and for the first time there’s a specific window:
- Late 2026: Revised phasing plan scheduled for approval
- Early 2027: Permitting, public notices, and a planned community workshop for the park
- Late 2027 or early 2028: Target for demolition of the existing buildings
- 2028: Construction of the first single-family homes and townhomes expected to begin
All of this depends on permits and approvals. But if the timeline holds, demolition could start in about a year.
What are Cambrian neighbors worried about?
Kimco’s plans state that future phases may happen individually or in combination. And there’s no firm construction date for the shops and restaurants.
So the legitimate question neighbors are raising is this: what happens if the houses get built, but the rest of the project still doesn’t pencil out?
I’m not saying that’s what will happen. But the whole point of this redevelopment was to create a place where people could gather. And that’s now the part most likely to take the longest.
What does the Cambrian Park Plaza redevelopment mean for Cambrian homeowners?
Here’s what most homeowners near the plaza haven’t thought through yet. This project touches your home’s value story in three different time windows, and each one calls for a different strategy.
Selling in the next 12 months
You’re ahead of demolition. Buyers will still see the existing plaza, but they’ll also see a project that finally has a timeline. In my experience, buyers respond better to a clear plan than to open-ended uncertainty. If you can explain what’s coming and when, that’s a selling point, not a liability. [INTERNAL LINK: Cambrian 95124 market update]
Selling during construction (roughly 2028 to 2029)
This is the window to think hardest about. Homes closest to Union and Camden will be competing with demolition noise, truck traffic, dust, and detours during showings. That doesn’t kill a sale, but it shapes how buyers feel walking up to the front door. Pricing and presentation matter even more here, because a home that sits during an active construction period tends to get picked apart.
Selling after the first homes are finished
Roughly 48 new single-family homes, 25 townhomes, and 27 ADUs will eventually hit the market right in the middle of the neighborhood. That’s new construction competing directly with resale homes in 95124. If you own an older, un-updated home nearby, you’ll want a clear plan for how your home stacks up against brand-new inventory down the street.
The long-term upside
If the full village gets built, with restaurants, shops, and a real park, it could genuinely boost Cambrian’s appeal for years. Walkable amenities are exactly what buyers pay a premium for in places like Willow Glen. The open question is when, and whether all of it arrives.
My honest take on Cambrian Park Plaza
I can see both sides.
New homes in Cambrian are going to attract buyers. These neighborhoods are desirable for good reason. And after a decade of delays, construction beats watching the plaza deteriorate.
But I understand why residents are nervous. They spent years pushing for restaurants, shops, and public spaces, and those are exactly the things that got pushed to the end.
More than 70 years ago, Paul Schaeffer built Cambrian Park Plaza because he believed a neighborhood needed a place to come together. Now we’re preparing to tear it down and start over, and we’re still asking the same question: will the community finally get what it was promised?
Frequently Asked Questions
When will Cambrian Park Plaza be torn down?
Kimco’s target for demolition is late 2027 or early 2028, pending permits and approval of the revised phasing plan in late 2026.
Will the Cambrian Park Plaza carousel sign be removed?
No. The carousel sign is a designated Santa Clara County historic landmark. Under the new plan, it will be relocated to Union Avenue during Phase 2.
What is being built at Cambrian Park Plaza?
The approved plan includes 48 single-family homes, 27 ADUs, 25 townhomes, 305 apartments, senior living, a hotel, roughly 51,000 square feet of shops and restaurants, and over 10 acres of open space including a public park.
Will the shops and restaurants at Cambrian Village actually get built?
They’re still part of the approved plan, but they’ve moved to Phase 4 with no firm construction date. Kimco’s plans say later phases may happen individually or together, which is why some neighbors are concerned.
Is now a good time to sell a home near Cambrian Park Plaza?
It depends on your timeline. Selling before demolition lets you market a clear plan instead of an active construction site. Selling later may mean competing with new homes built on the site. A pricing review based on your specific street is the best way to decide.
Thinking about selling in Cambrian?
If you’re wondering what this could mean for your home in Cambrian, Willow Glen, or anywhere in San Jose, let’s talk it through. No pressure, just an honest look at your timing, your equity, and what your specific neighborhood is doing. That’s what we’re here for.
Book a 30-minute call with Kip: https://calendly.com/kip-barnard-compass/30min
Get the free guide, “Selling for Top Dollar in Silicon Valley”: https://kipandtam.com/seller-guide
AUTHOR BIO
Kip Barnard is a Broker Associate with Compass and co-leads the Barnard Group with his partner Tam. With more than 20 years of experience selling homes in Cambrian, Willow Glen, and across San Jose, Kip specializes in seller strategy, relocation, probate, and trust sales. He’s a U.S. Marine Corps veteran and is known for a straight-shooting, client-first approach built on radical honesty and fiduciary responsibility.
Kip and Tam | Barnard Group | DRE# 01428934 | Compass
LEGAL DISCLAIMER
This article is for general informational purposes only and is not legal, financial, or tax advice. Project details and timelines are based on developer plans and public records available as of the date below and are subject to change. Information is deemed reliable but not guaranteed. Consult the City of San Jose Planning Division for official project status.
LAST UPDATED
October 18, 2026
