Camelback Colonnade redevelopment clears hurdle, eyeing rezoning

They’re aiming to get the whole western half of the Colonnade – about 23 acres – rezoned to allow for mixed uses including multifamily, retail, restaurants and offices.

BY HAILEY MENSIK/PHOENIX BUSINESS JOURNAL

Sep 7, 2026, 5:01 AM

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One of Phoenix’s oldest shopping centers is gearing up for a potentially major transformation. (Phoenix Business Journal)

(Phoenix Business Journal)

One of Phoenix’s oldest shopping centers is gearing up for a potentially major transformation.

Developers are in the process of setting up a portion of Camelback Colonnade for a new 216-unit multifamily project.

The owners of the complex, Federal Realty Investment Trust and RED Development, are targeting a 2.5-acre portion on the southwest side of the shopping center, which is located at Highland Avenue and SR 51. It includes an underutilized parking lot and a Phoenix Public Library Branch.

They’re aiming to get the whole western half of the Colonnade – about 23 acres – rezoned to allow for mixed uses including multifamily, retail, restaurants and offices.

The Camelback Village Planning Committee discussed the project at a Sept. 1 meeting and recommended approval. It will now head to the Planning Commission on Oct.1, then to City Council for final approval.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.