SURPRISE, AZ — Scottsdale-based developer SimonCRE has unveiled plans for one of the first major outdoor shopping malls to be developed in the West Coast in a decade.
Called Village at Prasada, the 700,000-square-foot project will be built just off the Loop 303 and Waddell Road in Surprise, an area that initially had a regional mall planned but didn't develop due to factors like the Great Recession.
It will house major retailers including TJ Maxx, HomeGoods, Marshalls, Five Below, PetSmart and Ulta and feature a restaurant row and entertainment options next to a planned multifamily project with more than 500 units.
At full buildout, the project, including the retail and multifamily components, will cost about $500 million to develop, according to SimonCRE.
The project is part of Prasada, a 3,355-acre master-planned community with residential, employment, hospitality and retail in the fast-growing city of Surprise, which has increased in population by 72% since 2004.
Read more of this story from the Phoenix Business Journal.
