Metrocenter demolition set to start this spring ahead of major redevelopment
Developers who bought the bulk of the former Metrocenter mall in north Phoenix had planned to tear it down in early 2023 so it could proceed with a mixed-use project called the Village featuring 2,600 multifamily units, a hotel and commercial space. Market conditions—including a boom in multifamily deliveries and high interest rates—have pushed it back to spring this year. The Phoenix metro area was slated to get over 20,000 new apartments last year in 2023, compared to the usual average of 8,000 units per year, causing some developers to hold off. Demand continues to surge, however, so more multifamily demand is expected as those units fill up.
