Work is set to begin later this spring on a project that will see the demolition of the famous Metrocenter Mall in Phoenix and subsequent construction of a $850 million retail village that will include up to 2,600 homes.
Located at 9617 N. Metro Parkway, roughly 10 miles to the northwest of downtown Phoenix, the Metrocenter Mall was opened in 1973 and was long one of the most popular shopping destinations in southern Arizona.
The 1.4 million-square-foot mall was especially well regarded for its variety of retail offerings, with more than one hundred stores, not to mention a 12-screen movie theater.
A decline was first noted in the 1990s, undoubtedly owing to the new presence of several other equally large regional malls. As more empty tenant spaces began to appear in the Metrocenter, its downward decline seemed irreversible.
Finally, in mid-2020, the mall closed its doors. After months of speculation, a consortium purchased the site last month for $50 million.
That consortium, comprised partly of Concord Wilshire Capital, TLG Investment, and CDS Holdings, will see to the leveling of the entirety of the mall itself, although a self-storage facility and existing Walmart Superstore at the site will remain intact.
It is expected that once the mall is demolished, work will begin in early 2025 on a project called The Village, which will also include a hotel, and 150,000 square feet of retail and restaurant space.
The idea behind the new project, which has been described as a “self-contained, transit-oriented” development, is to create a walkable village with a green and pet-friendly space, a town central park, and a variety of residential apartment units.
By Garry Boulard
