Inside The Metropolitan: Phoenix’s $850 Million Vision for a Next-Gen Urban Village
The Metropolitan Phoenix Redevelopment | $850M Mixed-Use Plan
Phoenix is undergoing a dramatic transformation. The shuttered Metrocenter Mall site is set to become The Metropolitan, an ambitious $850 million mixed-use development that aims to reinvent how people live, work, and play in the heart of the city. This project not only offers new housing and retail but ties directly into public transit, walkability, and a lifestyle shift toward walkable urban living.
For buyers, investors, and future residents, The Metropolitan is more than a redevelopment—it’s a signal that the future of Phoenix real estate is being built right now.
What is “The Metropolitan”?
- The Metropolitan is an urban village planned for the former Metrocenter Mall site in Phoenix.
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the project will reuse the 64-acre property and integrate residential, retail, entertainment, green space, and transit connections.
Concord Wilshire Capital and Diversified Partners are leading the development, with Oakwood Homes named exclusive residential builder.
Key Components & Phases
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Terra Court – 144 townhomes near light rail, priced from the low $400,000s. 100% pre-sold.
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Luna Villas – 314 mid-level townhomes from the low $500,000s. 50% pre-sold.
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Levante Apartments – A wrapped multifamily project with 350 units, 100% pre-sold.
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Brava Community – 290 premium townhomes starting in the low $600,000s (to be built later).
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The Loop – The retail & entertainment village at the center, including rooftop dining, boutique shops, event space, a splash pad, park plaza, live music venues, and a weekly farmers market.
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The Track at The Loop – A landscaped pedestrian & bike pathway encircling the development to connect residents, retail, transit, and recreation.
Construction begins in April 2026 for three residential phases; the remaining residential and retail parts begin in April 2027.
Why This Redevelopment Matters for Real Estate
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Transit-Oriented Development (TOD): The proximity to light rail makes it ideal for residents seeking lower-commute and walkability advantages.
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Diverse Entry Points: With a range of price points from entry-level to premium
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townhomes and apartments, multiple buyer segments are included.
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Mixed-Use Synergies: The Loop’s retail and entertainment options can make this a compelling destination—and that helps sustain property values.
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Pre-Sales Signal Demand: Full presales for Terra Court and Levante already demonstrate strong appetite.
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Urban Revitalization: This project is a catalyst that could raise demand and property values in surrounding neighborhoods.
The Metropolitan is reshaping what urban Phoenix will look like in the near future—and homebuyers today have a unique opportunity to get in at the ground floor.
Whether you're seeking a townhome near transit, an apartment in a walkable hub, or want insights into how this development impacts adjacent neighborhoods, let’s talk. As your local Scottsdale & Phoenix real estate guide, I can help you position yourself strategically in this new era.
Contact Denise McManus- Scottsdale Real Estate Agent today to explore homes near The Metropolitan and understand how this investment may influence your real estate decisions.
Q: Where exactly is The Metropolitan located?
A: It’s on the former Metrocenter Mall site in Phoenix, on approximately 64 acres.
Q: When does construction start?
A: April 2026 for the first residential phases; April 2027 for full retail and additional housing components.
Q: What types of homes will be available?
A: Townhomes at Terra Court and Luna Villas, premium townhomes at Brava, and multifamily apartments in Levante.
Q: What is “The Loop”?
A: The Loop is the development’s retail & entertainment district, with rooftop dining, event spaces, curated retail, parks, and a weekly farmers market.
Q: What impact will this have on nearby property values?
A: Major redevelopments like this often uplift value in surrounding areas thanks to improved amenities, better infrastructure, and increased demand—especially for properties near transit.
