By Tasha Anderson | AZBEX
The City of Phoenix heard and approved a request to rezone approximately 91.16 acres at the NWC of Tatum Boulevard and Cactus Road at its February 4th Planning Commission virtual public meeting.
Approval of the request, which was to rezone the property from Regional Shopping Center, Planned Community District to Intermediate Commercial, High Rise, Density Waiver, Special Permit, Planned Community District, brings developers Macerich and PV RE Devco, LLC one step closer to their plan of redeveloping the failing Paradise Valley Mall into a vibrant, high-quality mixed-use development.
The redevelopment is proposed to include a total of 6.5MSF comprised of a mix of retail, grocery, restaurants, multifamily, office, self-storage, and more. The multifamily portion is expected to contain approximately 2,500 units and 3.25MSF, leaving another 3.25MSF for the non-residential uses. Buildings within the “ring road” surrounding the existing mall will have a maximum building height of 120 feet while buildings outside of the ring road will have a maximum height of 85 feet.