November 24, 2024 5:59 am
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Apartments, grocery construction underway at Paradise Valley mall site

An artist’s rendering shows the planned apartment complex at the former Paradise Valley Mall site. (RED DEVELOPMENT)

By Corina Vanek | Phoenix Business Journal

Construction on the first phase of the Paradise Valley Mall redevelopment project, led by Phoenix-based RED Development, is beginning construction and will include a 400-unit apartment complex, a Whole Foods Market and a Harkins dine-in theater.

According to real estate database Vizzda, RED Development sold 20 acres of land to StreetLights Residential for $17.55 million for the mixed-use apartment complex that will include the Whole Foods on the first level. Jeff Moloznik, senior vice president of development for RED, told the Business Journal that the company will remain involved as a partner in that project and any other pieces his firm decides to sell to other developers.

Read the full subscription story from the Phoenix Business Journal.

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