Phoenix’s Iconic Metrocenter Mall Ready for $850M Redo
The developers of the Metrocenter Mall conversion have received their zoning and entitlements from the City of Phoenix, and now they have the deed to the once-flourishing retail center. A group made up of Concord Wilshire Capital, TLG Investment Partners and CDS International Holdings will start work immediately on the $850 million redevelopment project. The Mall was one of the first and most famous in Phoenix until it closed down during the Covid pandemic.
The news is a big deal to Mayor Kate Gallego, “Metrocenter has memories for so many of us in Phoenix. As we look to the future, Metrocenter now means jobs, attainable housing, and restoring community strength to northwest Phoenix.”
Hines has been brought in to help repurpose the property for the village that will include over 2,600 multifamily units, 150,000 square feet of retail, office, and food and beverage options. Total construction costs are expected to be over $850 million.
- ◦Sale/Acquisition
- ◦Development