There are massive changes happening all around the valley. One of those being in Downtown Phoenix. What once was a shopping mall in Phoenix, is now going to be an apartment complex and other restaurant and stores to shop at.
Where is The New Development?
Across from the Creighton University’s new medical school at midtown Phoenix’s Park Central mall is going to have more development that was announced earlier this year. Park Central’s owners, Tucson’s Holualoa Cos. and Peoria-based Plaza Cos. paid $28 million for the last 21 acres and the mall will feature an almost 193,000-sq-foot building on the north side.
One of the newer developments is a 9-story apartment building. What is going to soon be an apartment building is currently in redevelopment of the older building into updated offices and retail. Another plan for development is going to be a parking structure that will allow 2,000+ cars for Park Central. Another addition to the Phoenix development could possibly be a hotel, an entertainment space and even a senior home facility as talks are still going on for the possible future.
Although the development has been in the building process since the summer of this year, the rebuilding is expected to be done somewhere in January of next year. Holualoa Chief Operating Officer Stan Shafer had this to say about the redevelopment, “with the additional parcel now under our ownership, we have an opportunity to do even more with Park Central to create a true hub for economic development for the region.”
The original shopping mall at Park Central was built by Ralph Burgbacher and A.J. Burgbacher who were brothers that purchased the mall in 1957. The 46-acre was originally a dairy site that was widely known to be Arizona’s 1st mall. Years after the mall was purchased and built, the mall was then surrounded by high-rises that stretched to the north side of downtown Phoenix. Sadly, during the 1980’s, Park Central began to struggle with the building of new suburbs and new malls and by 1992 the mall then closed. Over the past few years, Park Central has built new restaurants, housing, and employment buildings that have sparked life into the new area. The hopes of surging a comeback for the development has been in the air as the new development is taking place.