Metrocenter mall demolition complete, Oakwood Homes joins $850M redevelopment project

Plans to turn the former Metrocenter mall into a massive mixed-use development is well underway. A new developer signed onto the project.

BY HAILEY MENSIK/PHOENIX BUSINESS JOURNAL

Sep 26, 2025, 6:00 PM

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Plans to turn the Metrocenter mall into a massive mixed-use development is well underway, with demolition of the former shopping center now complete and an additional developer signed on to take up the housing component.

Denver-based Oakwood homes, which is owned by Clayton Property Group, will be the exclusive residential builder at the 68-acre site.

Construction on “one of the largest mall redevelopment projects in Arizona’s history” is beginning ahead of the original timeline and is now expected to start in the first quarter of next year, Phoenix Vice Mayor Ann O’Brien announced at a Sept. 24 event.

The former Metrocenter mall, which originally opened in 1973, officially shut its doors in 2020 during the Covid-19 pandemic.

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