A vacated Sears was originally going to be renovated and re-opened as a Target. This plan was rethought, with a revised plan announced in early 2015. The northern 13 acres of the mall site would be redeveloped as the open-air North Block Plaza.
Drawing from http://www.cityofsanmateo.org 

Construction commenced in mid-2016. Everything in the northern sector was bulldozed, except for an Outback Steakhouse (in black). Around 300,000 square feet of retail, food service and entertainment venues (in light gray) were open for business by December 2019.