PHOENIX — The former Paradise Valley Mall is undergoing a $2 billion redevelopment for what is now ‘PV.’
"...We've got an opportunity to do something that's very unique nationally, which is to take what was once a thriving mall in a still-thriving neighborhood and convert it into an 'urban core' [and] that's something the city of Phoenix had in their master plan for decades, and now they're actually able to see it [to fruition]," said Jeff Moloznik, Vice President of Development at RED Development, in an interview with ABC15’s Nicole Gutierrez. "And it couldn't be better that it's in Councilwoman Deb Stark's district because she was the planning director when they developed the 'urban core concept' in the city of Phoenix. So, she's going to get to see it actually come into reality."
Some businesses in the area are open but there are still several concepts under construction.
ABC15 did a walkthrough of the first phase of the redevelopment this winter where we saw some of the spaces under construction that will eventually add to the 'urban core concept' of the project.
“We started with 100 acres [and] we are under construction on about half of [those] 100 acres. So, what we walked through was really, in this first phase, a great sample of more to come,” said Moloznik. “Then you've got other ones, like Wren House [Brewing Company], which has become a household name as well for the quality of their product in the beer that they produce. And then one of the last stops we had was The Melt out of California - [they] don't have a restaurant outside of California. This will be the first. All of these [concepts are right in front of] that Central Park area that really is that pedestrian core to the whole property and something that, when the second phase of the project is complete and it's fully built out...that centerpiece is going to be the community gathering spot.”
The Central Park of the development will function as an outdoor live performance venue for the community. This area is actually in front of Fender's new Arizona co-headquarters being built at PV.
“It was very coincidental that we built an outdoor live performance venue in the park, and then we met the people from Fender, and to make that come full circle, one of the first performers that we had in that live music pavilion outdoor was a Fender employee,” shared Moloznik. “It's actually kind of cool that we have a community within the community, and that's really what's taking place, and I think that's what really appealed to Fender when they decided to relocate their corporate headquarters here. It's going to be a beautiful three-story building. They'll be the only tenant in that building, so they got to custom-make it just for what it is that they do. So, all the disciplines inside that building are all part of what it takes to produce the guitars and amplifiers that they do, and then they bring talent into the venue, into their building, that's going to […] use the amplifiers, use the guitars and any prototypes that they develop there. So, it's a great win for the community and for the Valley to have such a nationally and internationally recognized brand here in PV.”
What’s now open:
- Blanco Reserva Cocina + Cantina: “Sam Fox and his Blanco Reserva concept, [it’s a] brand new concept. There isn't another one in the country. There will be many more, but... we get to experience it first,” said Moloznik.
- Flower Child
- Sephora
- Trevor’s Liquor: “Unbelievable space — they took the old Sears tire and battery shop and converted it into the most beautiful restaurant and wine bar you could imagine. ...It's almost impossible to think of what it was before and what it is now, and the incorporated ingredients on the exterior are from the old Sears tire and battery shop, and it's just awesome, and they're doing phenomenal now,” said Moloznik.
- Whole Foods
What’s coming soon:
- Federal Pizza
- Frost Gelato Shoppe
- Hammer and Nails
- Hawaiian Bros Island Grill
- The Melt: The fast-casual eatery founded in San Francisco will make its Arizona debut at PV.
- Wren House
- Fender: “New Arizona co-headquarters for the world’s leading guitar manufacturer broke ground in September 2024, anticipated to open in fall 2025,” read a news release that highlighted that it will be a three-story building.
- Skin Spirit
- Distinctive Salon & Spa
- European Wax Center
- AVE Paradise Valley: Mid-rise that features studios, 1-, 2- and 3-bedroom apartments along with ‘pet and resort amenities.’
- Life Time Living Paradise Valley: “Anticipated to open in 2026, this is a first-to-market, fully integrated concept consisting of an athletic country club and luxury-for-lease residences,” read a news release sent to ABC15.
So what is the timeline for this massive redevelopment?
“Blanco Reserva [opened] up to the public, and everybody should come and see that […] and then from there you're going to have The Melt, Wren House Brewery, Federal Pizza […] Flower Child is already open behind [and] I'd say cascading through the course of the next six months, you're going to have another seven restaurants and bars open up, along with Hammer and Nails- which is a men's grooming salon- Skin Spirit [and] it's just it's going to roll from there, as we get into 2026 Lifetime Fitness will open. Fender actually opens in 2025, but it will carry on throughout the course of the rest of this decade,” said Moloznik.
Want to check out PV? You can head to 4568 E. Cactus Rd. in Phoenix.
The video in the player above showcases some of the best things to do in the Valley this January. Read more about it right here.
