Metrocenter Demolition Set to Start This Spring Ahead of Major Redevelopment

The former Metrocenter mall is set to be demolished by spring 2024, delayed due to market conditions such as high interest rates and oversupply of multifamily housing. The $850 million redevelopment project, named “the Village,” will include 2,600 residential units and 150,000 square feet of commercial space. The development team, including Concord Wilshire Capital, TLG Investment Partners, CDS International Holdings Inc., and Hines, initially planned to start demolition in early 2023 but now targets the second quarter of 2024. The project aims to cater to a growing demand for housing driven by economic development strategies attracting new jobs to Phoenix. The timeline expects completion within seven to eight years, with the project coinciding with Phoenix’s plans for urban renewal and connectivity, including expansions to the light rail system.

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