The Metrocenter Mall, once a bustling shopping destination, is set to be completely transformed this spring. A team of experienced developers including Concord Wilshire Capital, TLG Investment Partners, CDS Holdings and Hines have acquired the 65-acre property for $50 million and are ready to embark on an $850 million redevelopment project.
The new development will be known as the Village and will feature a vibrant mix of 2,600 residential units surrounded by communal gathering spaces. Additionally, there will be 150,000 square feet of commercial space which includes ground-floor retail shops and a hotel. The entire project is expected to take seven or eight years for full buildout with each phase taking approximately two years.
This ambitious redevelopment effort marks the end of an era for Metrocenter Mall but ushers in an exciting new concept that promises to revitalize the area. Stay tuned for updates on this highly anticipated project!
