Metrocenter Project Takes Significant Steps Toward Becoming a Reality

A rendering of The Village shows how the developers are imagining the 68-acre mixed-use project that will be built at the former Metrocenter Mall property (submitted photo).

On September 18, developers Concord Wilshire Capital and TLG Investment Partners announced a significant transformation for Phoenix’s historic Metrocenter Mall, planning the largest mall redevelopment in Arizona’s history. The $850 million project will encompass a 68-acre mixed-use space, with abatement and demolition already underway, including the Dillard’s and U-Haul buildings.

Resource Environmental, Inc., a LA-based company, is tasked with managing asbestos removal prior to full demolition. They aim to secure the safety of workers and the public during this process, having received a $24.5 million construction loan to cover abatement and related civil work. The initial phase of exterior demolition is expected to commence in mid-November.

The project, titled The Village, includes a collaboration with the real estate firm Hines, which has now taken oversight responsibilities for the redevelopment. Chris Anderson, senior managing director of Hines, expressed confidence in the environmental remediation timeline, projecting completion within the next 10 to 12 months to pave the way for construction.

Nate Sirang, president of Concord Wilshire, highlighted plans to create an engaging retail and food space in The Village, catering to both residents and visitors. His vision emphasizes the integration of advanced public safety measures, aiming to foster a vibrant community hub that contributes to Phoenix’s economic growth.

The mixed-use development is strategically designed to be transit-oriented, positioned around a new light rail station that reflects a $150 million city investment completed in January 2024. As development progresses, the housing aspect has evolved from an original plan of 2,600 multifamily rental units to 1,100 for-purchase townhomes. These townhomes will range from 1,400 to 2,200 square feet, with starting prices in the low $400,000 range, according to Jon Green, senior vice president at Concord Wilshire.

Green provided a project update during the Metro District Community Collaboration meeting on August 27, indicating that residents could expect to see vertical development within 14 to 16 months following the September demolition, with model home construction anticipated to begin around the 20th month.