PHOENIX - Officials with the City of Phoenix say members of the City Council approved a rezoning request that will allow for a redevelopment project of Paradise Valley Mall to move forward.
According to a statement released on the afternoon of Feb. 17, the project will include retail shops, restaurants, a grocery store, offices, self-storage, and high-rise multi-family housing no higher than 120 feet.
"The redevelopment of Paradise Valley Mall will provide economic stabilization, not just to the immediate area but to the surrounding neighborhoods as well," said Phoenix Mayor Kate Gallego, in the statement.
Officials say the 92-acre site will be developed in phases, but the city's Mesquite Library is not part of the redevelopment project, and will remain at the site. In addition, a Costco location in the area, as well as the parking garage, will also remain at the site.
According to the statement, Paradise Valley Mall, which is owned by Macerich, is partnering with RED Development for the project. RED Development is noted for its role in other projects in Phoenix, such as CityScape in Downtown Phoenix and the Shops at Town & Country near the Biltmore area.
Officials say construction and demolition of parts of the mall are expected to start in the next few months.
Business owner reacts
Jeff Thalblum has owned a sports collectibles store for over a quarter of a century, but he is closing shop at Paradise Valley Mall, since the location will soon be redeveloped.
"It’s bittersweet. I remember growing up I walked by it all the times watched that mall being built," sad Thalblum.
Thalblum said he made his decision to close up shop prior to the city council vote on Feb. 17.
"We kind of knew this was going to pass, and our contract was up December 31 and we decided against re-signing," said Thalblum. "It was my gut feeling that the mall was going to be redeveloped."
Thalblum says he’s on board with the decision, believing the new site will help to boost area revenue.
"It’s great for the neighborhood," said Thalblum.
Thalblum says he still has plans to continue with the business.
"It’s been 25 years of a good time, and now, we move on, and we are gonna start doing farmers markets," said Thalblum.
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