What to do with the site of one of the most famous and popular shopping malls in the southwest is still being debated in Phoenix as city officials ponder a redevelopment project that could cost as much as $750 million.
Located at 9617 N. Metro Parkway, the Metrocenter Mall was opened in 1973 and for decades served as a vibrant shopping center featuring around one hundred individual stores, as well as a movie theater with 12 screens.
The mall began to experience increased vacancies in the 1990s, especially after the opening of other nearby equally large shopping centers. Although much of the mall was renovated and updated in subsequent years, it was finally completely closed in mid-2020.
Now the City of Phoenix, working with Concord Wilshire Capital, which has offices in Miami, is going over plans that will see a three-phase development of the site involving the building of around 2,600 multifamily units as well as up to 100,000 square feet of retail space, essentially turning the site into a walking village.
Additional plans call for the creation of an amphitheater, walking and bike trails, and dog-friendly parks.
With Concord Wilshire currently in the process of purchasing additional land, the total redevelopment site will measure around 80 acres and will see the beginning of the demolition process this fall.
If all goes well, construction of the project’s first phase will launch early next year, with an initial completion date set for the final quarter of 2024.
According to reports, the next two phases of the project will be undertaken and completed no later than 2029.
By Garry Boulard
