I’m Kip Barnard, a broker with Compass. My team and I have sold homes in Cambrian and Willow Glen for more than twenty years, and no topic comes up more right now than this one: what is actually happening with Cambrian Park Plaza, and does it change when I should sell?
After more than a decade of delays, the developer finally has a timeline. There is also a big catch. Kimco now wants to build the houses first. The shops, restaurants, and walkable village that neighbors have been waiting for come later.
Watch the full breakdown below, then keep reading.
In this video, I walk through the history of Cambrian Park Plaza, the developer’s new phasing plan, the demolition timeline, and the question neighbors keep asking: will Cambrian get the village it was promised?
Why does Cambrian Park Plaza matter so much to the neighborhood?
If you have lived in Cambrian for any length of time, you know the carousel sign at the corner of Union and Camden. It has been there since 1953.
What many people do not know is why the center was built. In the 1950s, much of Cambrian was still orchards. One of the landowners, Paul Schaeffer, saw those orchards being replaced by homes and realized all those new families would need somewhere to shop. So he built Cambrian Park Plaza and designed it to feel like a small town, with courtyards, brick walkways, and little storefronts.
For decades it held a post office, a hardware store, an ice cream parlor, and Cambrian Lanes bowling alley. Cambrian never had a real downtown. This was it. That is why people are so protective of the place.
How did Cambrian Park Plaza get to this point?
- 1980s: The plaza was already struggling. Businesses closed and the buildings aged.
- 2015: The Schaeffer family sold. Weingarten Realty paid nearly $50 million for the roughly 18-acre site.
- 2016: Santa Clara County designated the carousel sign a historic landmark, so the sign was saved.
- 2021: Kimco Realty acquired Weingarten and became the new owner.
- 2022: The San Jose City Council unanimously approved a plan with more than 370 homes and apartments, senior living, a hotel, shops, restaurants, and a large community park. Neighbors, including the group Friends of Cambrian Park, had pushed for something closer to the Pruneyard in Campbell, not just another shopping center.
Then, for nearly four years, nothing happened. The property just sat there and aged.
Why is the developer building the houses first?
According to Kimco, the original project no longer made financial sense. Construction costs went up and interest rates were higher. The original approval also required the commercial portion to be built before the homes, or at the same time. That meant spending millions on demolition, utilities, roads, and commercial construction before any money came in from selling houses.
Earlier this year, Kimco asked the city to change that order. The city agreed. Kimco says the change cuts its upfront costs by about $35 million, and it lets the homes move forward without waiting on the shops and restaurants.
What are the construction phases at Cambrian Park Plaza?
Kimco has split the project into phases, and the order tells you a lot:
- First: 48 single-family homes and 27 accessory dwelling units
- Next: 25 townhomes, and the carousel sign moves to Union Avenue
- Then: grading and underground utility work
- Then: senior living
- Phase Four: apartments, shops and restaurants, and the rest of the park
- Last: the hotel
When will Cambrian Park Plaza be demolished?
This is the question I get asked most. The developer has now given a fairly specific window:
- Late 2026: The revised phasing plan is scheduled for approval.
- Early 2027: The developer works through permitting and public notices. A community workshop for the park is also planned.
- Late 2027 or early 2028: Target for demolition of the existing buildings.
- 2028: Construction of the first homes and townhomes is expected to begin.
All of this depends on permits and approvals. If the timeline holds, demolition could begin in about a year. The carousel will live on. The shopping center around it will not.
What are Cambrian neighbors worried about?
Kimco’s plans say future phases may happen individually or in combination, and there is no firm construction date for the shops and restaurants. So the question becomes: what happens if the houses get built, but the rest of the project still does not make financial sense?
I am not saying that is what will happen. But it is a legitimate concern, because the whole point of this redevelopment was to create a village where people could gather. That is the part that could take the longest.
I can see both sides. New homes in Cambrian will attract buyers, and after a decade of delays, starting construction beats watching the plaza fall apart. I also understand why residents are nervous. They spent years pushing for restaurants, shops, and public spaces, and those are the very things being pushed toward the end of the project.
What does this mean if you want to sell your home in Cambrian?
Here is what most Cambrian homeowners have not thought through yet: a redevelopment this long and this visible becomes part of the story buyers hear about your home. You get to decide whether you are prepared for that conversation.
Nobody can tell you how this will move prices
I have been selling here for more than twenty years, and I will not hand you a prediction. Anyone who promises that the demolition, the new homes, or the delayed village will push values one way or the other is guessing. What I can tell you is that buyers will ask about it, so you should have clear answers ready.
Sell before, during, or after?
- Before demolition: The plaza and the carousel sign are still there, nothing is under construction, and buyers see Cambrian as it is today.
- During construction (2028 and beyond): Fencing, trucks, and noise matter most for homes close to Union and Camden. Homes farther from the site are affected less.
- After: The village may or may not be built out yet. That is the open question.
The right window depends on where your home sits, your equity, and your own plans, not on a headline.
Disclose what you know
Details matter in contracts and disclosures. If you know about nearby development, talk with your agent about how to handle it in your disclosures and how to explain it to buyers honestly. Protecting you from a problem in the middle of escrow is part of my job.
Preparation beats price cuts
A home that is priced right, presented well, and has its paperwork in order will outperform one that goes on the market in a rush because a neighbor mentioned the news. Sellers who prepare early have options. Sellers who react late usually discount.
Frequently Asked Questions
When will Cambrian Park Plaza be demolished?
Kimco’s target is late 2027 or early 2028, depending on permits and approvals. The revised phasing plan is scheduled for approval in late 2026, with permitting and public notices following in early 2027.
Is the Cambrian carousel sign being torn down?
No. The sign has county landmark status and will remain. According to the phasing plan, it moves to Union Avenue during the second phase, alongside the townhomes.
What is being built first at Cambrian Park Plaza?
Forty-eight single-family homes and 27 accessory dwelling units come first, followed by 25 townhomes.
Will the shops and restaurants at Cambrian Park Plaza actually get built?
They are planned for Phase Four, along with the apartments and the rest of the park, and the hotel comes after that. There is no firm construction date yet, which is the main concern neighbors have raised.
Should I sell my home in Cambrian before demolition starts?
It depends on your timeline, your equity, and how close your home is to the site. Selling before construction begins means buyers see the neighborhood as it is today, but no one can promise how the market will price the project. A short conversation about your specific home is the best way to decide.
What Do You Think?
Is building the houses first a smart way to finally get this project moving? Or are you worried the shops and restaurants may never happen? Tell me in the comments on the video.
If you are 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 seller guide, “Selling for Top Dollar in Silicon Valley”: https://kipandtam.com/seller-guide
