Defunct malls among top redevelopment projects in the Valley

Posted at 11:54 AM, Feb 01, 2022
and last updated 2022-02-01 13:54:33-05

PHOENIX — Defunct malls have been the focus of some of the biggest redevelopment efforts in the Valley, including the reuse of the former Park Central Mall as a primarily office mixed-use campus, and now two groups are gearing up to take on the repositioning of Metrocenter and Paradise Valley Mall.

“Paradise Valley Mall is a great location,” Mike Ebert, founding partner of Phoenix-based RED Development, said at a recent panel discussion hosted by Valley Partnership. “We started working on it about 10 or 12 years ago, but it wasn’t the right time. I’m super thankful that it didn’t work out 10 years ago.”

The 100-acre site is larger than Scottsdale Quarter and Kierland Commons combined, Ebert said.

Ebert’s firm is now working on the redevelopment of the mall into a mixed-use location that will be heavily focused on residential uses, with retail and restaurants.

In late 2021 a redevelopment plan was finally made public for Metrocenter, and a joint venture between Florida-based Concord Wilshire Capital and Florida-based TLG Investment Partners is under contract to buy the property.

Read more of this story from the Phoenix Business Journal.