Concord Wilshire Capital and TLG Investment Partners, in partnership with Carl DeSantis’ CDS International Holdings (CDS), have closed on its acquisition of Metrocenter Mall, including the Dillard’s Building and U-Haul Building, in Phoenix.
The development group has formed a strategic alliance with Hines, the international real estate firm, to redevelop and repurpose the Metrocenter Mall into a community-driven walkable village that will be home to a variety of residential apartment options, including ownership and rental, curated boutiques, popular retail stores, restaurants, bars, a town-center park, and other commercial and entertainment venues. The new village will be situated on approximately 64.2 acres of prime land in a qualified Opportunity Zone. The plans for the village include over 2,600 multifamily units, 150,000 square feet of commercial and essential and service retail and 4,100 surface and garage-deck parking spaces. Total construction costs are expected to
