Work could begin sometime this fall on bringing back to life one of the largest shopping malls in northeastern Phoenix.
Members of the Phoenix City Council have given their approval to a zoning change that will allow for the construction of taller buildings at the site of the Paradise Valley Mall at 4568 E. Cactus Road.
The 1.2 million square foot mall, which was originally opened in the spring of 1979 and expanded in the next decade, has seen a decline in business in recent years due to the exit of several large tenants.
Late last year Dillard’s said it was closing its 200,000 square foot outlet, leaving the mall with only a handful of smaller tenants.
But in the wake of those exits, Macerich, a real estate investment company based in Santa Monica, has announced plans to re-purpose the mall, building multi-level residential housing at the 91-acre site, as well as 45,000 square feet of grocery store space.
Altogether, the new site configuration will include 3.2 million square feet of nonresidential space; and 3.2 million square feet of residential space.
The redevelopment will also see the building of office space, and both restaurants and retail stores.
Initial work will include the demolition of the existing mall that once housed a Sears department store outlet, work that could begin by early summer.
By Garry Boulard
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