PV welcomes new restaurants and more at mall redevelopment
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PV, the former Paradise Valley Mall site, is welcoming a handful of new businesses as part of its redevelopment. Photo courtesy of RED Development
PV is getting more places to eat, stay healthy and have fun as the redevelopment of the former Paradise Valley Mall site continues.
Why it matters: The bulldozed mall near Cactus Road and Tatum Boulevard is giving way to a massive, mixed-used development that will transform that area of north Phoenix.
What they're saying: "By this time next year, this will be a dramatically different place," Jeff Moloznik, senior vice president at RED Development, told Axios.
The latest: RED, which is redeveloping the site, on Thursday morning announced seven new tenants that'll open near the Park at PV, a green space on the eastern side of the former mall:
- Helios Pilates, a San Diego studio, will open its third location next year at PV. Its first Arizona location will open next week in Scottsdale.
- Culinary Gangster will open its fourth Valley location in 2027, offering a chef-driven scratch kitchen with burgers, salads and quinoa bowls, which the chain described as healthy food "done the right way" and "street food with a little bit of a chef twist on it."
- Lululemon, Escapology escape rooms, Asian-inspired restaurant OBON, teeth whitening studio WeWhiten and wellness center Next Health will also open later this year or in 2027.
What's next: The 92,000-square-foot Life Time Paradise Valley — the athletic country club's eighth Arizona location — will open next week with Pilates and yoga studios, a spa, pickleball courts and a rooftop pool club.
- The company plans to finish its high-rise Life Time Living residential units next year. It'll include a walkway joining it to the fitness center, with free membership for residents.
- Indianapolis-based restaurant group Huse Culinary will expand to Arizona this year with the opening of Harry & Izzy's, and the Vig plans to open its PV location this year as well.
What we're watching: The 100-acre redevelopment project is only about half finished, and Moloznik said it'll likely be completed in 2030.
- More restaurants, retail and residential units, including "high-rise for-sale," are on the horizon.
- The project's also meeting demand for office space in the area, which is fueled by its proximity to State Route 51, per Moloznik. He noted that Fender Musical Instruments is relocating its headquarters from Scottsdale to PV.
The goal of the overarching redevelopment project is to bring the walkability of the former mall to an outdoor, urban environment, Moloznik said.
- "Each block will kind of have its own feel and identity, which is tied together by that retail at the ground floor," he said.
Catch up quick: Paradise Valley Mall, opened in 1978 and closed in 2021, with demolition beginning later that year.
- The $2 billion redevelopment project launched in 2022.