By Roland Murphy | Arizona Builder’s Exchange
Once a national flagship for retail space in city environments, Metrocenter in Phoenix had begun to fade even before the Great Recession ravaged the local and national economies.
Carlyle Development Group has a plan in place to revitalize the facility and bring a myriad of new commercial opportunities to the area as part of an ambitious redevelopment program (AZBEX, June 26, 2012).
Currently zoned for retail, Carlyle is working with the City of Phoenix to get a PUD approved and put in place by the end of June that will open up the area for a much greater variety of uses, providing businesses and the community a greater range of options than currently exists.
One market specifically being explored is healthcare. Working in conjunction with GPE Commercial Advisors, Carlyle is looking to bring in healthcare-related operations as one option to occupy the 150,000 square foot former JC Penny building on the mall’s west side in addition to PAD space that may be developed after the zoning changes are approved.
