SUNNYVALE TOWN CENTER DEVELOPER CONFIRMS PROJECT PROCEEDING ON SCHEDULE

SUNNYVALE, Calif. – In a project status update provided to Sunnyvale City Council, Downtown Sunnyvale Mixed Use, LLC, the developer of the Sunnyvale Town Center redevelopment project, has confirmed the project is moving forward and currently remains on schedule.

Despite the current economic climate, the developer has assured the City that funding for the project is not now, nor has it ever been, in jeopardy. The next milestone laid out by the ARDDOPA, the document governing construction of the project, is a December 31, 2008, deadline to complete the structures for building shells; the developer is currently on schedule to meet that deadline.

Updates on the status of downtown construction are available online at Downtown.inSunnyvale.com.