New ownership brings life to historic Carefree Mall

Los Portales Mall, a longstanding architectural landmark in the heart of Carefree since the 1980s, is preparing for a new chapter under new ownership, with a vision to restore the character and life of the property.

The new concept, Orchard Street Market, is led by co-founders Ken Martindale and Sharon Aulicino, along with operating partner Charlie Yamashita. They will reimagine the building while preserving the distinctive features that have long made the property special, including its architecture, stained glass dome ceilings, archways and atmosphere.

Following months of collaboration between the Town of Carefree and the new ownership group, a sales tax development agreement was unanimously approved at the June 2 council meeting to support reinvestment in the property.

Over the past few decades, the property has faced increasing challenges, including aging infrastructure, deferred maintenance, underutilized spaces, and areas that no longer meet modern code requirements. The necessary improvements that address these challenges will create new opportunities for curated retailers, restaurants, artisans, and community gathering spaces.

The project aligns with the town’s economic development objectives of encouraging reinvestment in existing commercial properties, supporting locally owned businesses, enhancing the visitor experience, and expanding the town’s long-term sales tax base.

“Los Portales has long been one of Carefree’s most iconic landmarks. This investment represents an opportunity to breathe new life into a treasured property, create new destinations for residents and visitors, and strengthen the economic vitality of our Town Center for decades to come,” said Carefree mayor John Crane.

For many longtime residents and visitors, Los Portales Mall represents an important part of Carefree’s history. In its prime, the property was filled with shops, restaurants, and gathering spaces that helped define the Carefree Town Center experience.

With Orchard Street Market, the goal is to recapture that same sense of activity and connection while introducing fresh, modern offerings that reflect the needs of today’s residents, businesses and visitors.

As the project moves forward, the town will work with property ownership and current tenants to explore creative solutions to help businesses remain in Carefree, should they choose to do so.

According to the Orchard Street Market vision, the upper level will include a fresh market and artisan makers, while the lower level will feature a curated mix of restaurants, wine bars, and experiential concepts designed to give visitors a reason to stay long after shopping is done.

Carefree town administrator Kristen Krey said, “This project is exactly the type of strategic reinvestment the Town hopes to encourage. It transforms an underutilized property into a destination that will generate economic activity, attract visitors, support local businesses, and strengthen the long-term vitality of Carefree's commercial core.”

Updates to the Orchard Street Market project will be shared on orchardstreetmarket.com and through Town of Carefree communications and webpages as needed.