MESA, AZ — The site of a once-iconic mall could be rebooted as a major gathering point in the East Valley once again.
Verde Investments Inc. proposes to do just that at the site of the closed — and mostly demolished — Fiesta Mall in Mesa. The Tempe-based company filed a rezoning application with the city of Mesa to shift the zoning from Limited Commercial to Infill District-2 which would make way for a mixed-use development.
Verde — which is owned by Valley businessman Ernest Garcia II, the biggest shareholder of Tempe online vehicle retailer Carvana Co. and wealthiest person in the state — controls the 80-acre site.
In March, Verde filed pre-submittal documents to the city of Mesa that loosely outlined how it would redevelop the parcel on the southwest corner of Southern Avenue and Alma School Road, directly off the U.S. 60 freeway. The proposal included turning the site into new retail, up to 4,000 multifamily units, flex office and open green space.
