Concord Wilshire Capital and TLG Investment Partners have begun the abatement and demolition of the Metrocenter Mall in Phoenix while forming a partnership with Diversified Partners LLC to develop and construct the 140,000-square-foot retail component within the replacement $850 million mixed-use development.
Metrocenter was an enclosed shopping mall constructed in 1972 on a 312-acre property. At its peak, the 1.4 million-square-foot mall had 100 stores, a food court and a 12-screen movie theater. The mall closed on June 30, 2020.
Resource Environmental, Inc., a Los Angeles-based company, will first abate and remove the asbestos from the buildings and then proceed with the demolition of the site’s buildings.
“The redevelopment of Metrocenter has been long-awaited by our residents, who are eager to welcome a new walkable, urban gathering place in their neighborhood,” said Phoenix Mayor Kate Gallego. “Though we will reminisce about fond memories over the years at Metrocenter, we are excited to witness the transformation of this iconic landmark into a modern and dynamic space to live, shop, eat, and enjoy.”
Walt Brown, CEO of Diversified Partners, said, “We are delighted to team up with Concord Wilshire on our shared vision for reimagining Metrocenter. We envision this prime property becoming one of the top destinations in Arizona. We will announce the new name along with some of the exciting features in the near future.”
Nate Sirang, president of Concord Wilshire, added, “We are excited to partner with Diversified Partners to bring the core of this mixed-use development to life, through the development of an eclectic retail and F&B mix, where every resident and visitor can feel a connection. Our vision includes integrating state-of-the-art public safety solutions into a comfortable and fun first-class destination for families while contributing meaningfully to the City of Phoenix, the local community, and its economy.”
Photo: Haken Arizona / Wikimedia Commons
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