PHOENIX — The former Metrocenter mall is now expected to be demolished by the spring of 2024 after the developer pushed back the timeline for its major redevelopment project amid a high interest rate environment.
The development team — comprised of Concord Wilshire Capital, TLG Investment Partners, CDS International Holdings Inc. and Hines — had previously expected to start demolition work immediately after acquiring most of the former mall property for nearly $50 million in January 2023.
The 65-acre property includes a majority of the former 1.4 million-square-foot mall, except for the Walmart Supercenter and self-storage facility, both of which will remain in place.
The former mall, which shuttered during the Covid-19 pandemic in 2020, is located at 9617 N. Metro Parkway just west of Interstate 17, about 10 miles north of downtown Phoenix.
