Plans for Metrocenter Mall’s new life have finally been revealed.
Concord Wilshire Capital and TLG Investment Partners announced Thursday they have contracted to acquire the iconic Phoenix mall — the backdrop of many childhoods and the set of “Bill and Ted’s Excellent Adventure” — and will invest $750 million to redevelop the space into a residential and mixed-use property, according to a news release.
The developers have partnered with international real estate firm Hines to repurpose Metrocenter into a walkable village that will be home to apartments, boutiques, retail stores, restaurants, a park and other entertainment venues. The Village will be situated on approximately 68 acres of land, and will include over 2,600 multifamily units and 100,000 square feet of retail space.
