Paradise Valley Mall has closed. Last Wednesday was the last day stores at the mall were open for customers. The mall has been in business for more than 40 years, with tenants serving customers with clothing, home goods, pet adoptions, and more.
For months, the mall was filled with empty stores and windows as more and more stores closed their doors. While nearly every store was closed and emptied out by March 31, a few may remain open for another couple of months as their leases run their course.
What’s Next for the Area?
In February, the Phoenix City Council voted to permanently close the mall. This paved the way for a new project that will transform the area into an outdoor multi-use development, with shops, offices and apartments.
What does this mean for the current mall structure? It will be demolished to make space for these new buildings. The 1.2 million-square-foot shopping center will eventually become a 6.5 million-square-foot, mixed-use development project, which is currently in the early phases of planning.
The current structure is on a 77-acre property near Cactus Road and Tatum Blvd. While there are no set tenants or Arizona businesses for the new town center development, this new development could bring a good mix of options for residents as the developers plan to cater to local market demand. The proposed use of the multi-use development include:
- 2,500 multifamily units (studio, one- and two-bedrooms)
- Office space
There is currently no set schedule for development of the space, but construction will be done in phases as the new town center begins to come together in the next few years. The first phase is slated to include residential space, a parking structure, and retail and dining space. However, like all projects in their early phases, things may change and the phases may be restructured to better meet the current needs of the development.