The Planning and Zoning Board of Mesa has recommended the approval of rezoning approximately 80 acres where Fiesta Mall once stood. Verde Investments intends to transform the site into a mixed-use development called Fiesta Redefined.
Verde’s plan for Fiesta Redefined includes building up to 4,000 residential units and up to 1.1 million square feet of non-residential space. A “village green” open area with benches, shade structures, and trees will also be incorporated into the project.
According to a report from The Phoenix Business Journal, if approved by the Mesa City Council in the coming months, Verde will seek out project partners who will determine the construction timeline.
Valley businessman Ernest Garcia II is behind Verde as he is currently Carvana Co’s largest shareholder based in Tempe.
Like many other malls across America, Fiesta Mall faced difficulties leading all stores on its premises closing down by 2019. However, plans for repositioning are now taking shape at this location.
