The transformation of the iconic Metrocenter Mall site is officially underway as Concord Wilshire Capital announced the completion of demolition and the selection of Oakwood Homes as the exclusive residential builder for The Metropolitan, an ambitious $850 million mixed-use development.
Spanning 64 acres, The Metropolitan will reimagine the former mall into a dynamic, walkable urban village that seamlessly integrates housing, retail, dining, entertainment, and Light Rail access. This highly anticipated project is set to redefine the North Phoenix corridor as a vibrant hub for modern city living.
“We are pleased to have selected Oakwood Homes, a division of Clayton Homes and a subsidiary of Berkshire Hathaway, as our exclusive residential builder and partner for The Metropolitan project,” Nate Sirang, President of Concord Wilshire, said. “Their company’s values, resources, flexibility, and proven ability to efficiently deliver high-quality custom-designed townhomes made Oakwood Homes a natural fit.”
Construction on the first three residential communities is slated to begin in April 2026, followed by retail and the remaining two residential phases in April 2027. Each community within The Metropolitan will cater to different market segments, with pricing starting in the low $400,000s.
The first community, Terra Court, will feature 144 entry-level townhomes near the light rail and has already completely pre-sold. Next is Luna Villas, offering 314 mid-tier townhomes starting in the low $500,000s, with 50 percent already pre-sold.
Levante Apartments, a 350-unit multifamily complex being co-developed by Concord Wilshire and Hines, is 100 percent pre-sold. The final residential phase, Brava, will break ground in 2027 and offer 290 premium townhomes, starting in the low $600,000s.
“Oakwood Homes is thrilled to partner with Concord Wilshire in constructing the residential townhome communities at The Metropolitan,” said Ryan Smith, COO of Oakwood Homes. “These communities will reflect a distinctive blend of Spanish Colonial and Contemporary Mediterranean design elements. We value this partnership and are committed to delivering the finished townhomes at great speed and quality.”
In addition to residential development, Diversified Partners, a Scottsdale-based retail developer, will lead the creation of The Loop at The Metropolitan, an experience-driven retail and entertainment district.
The Loop will include 116,000 square feet of boutique retail, rooftop restaurants, an event center, music venues, a splash pad, a plaza, and a farmers market. It will be surrounded by The Track at the Loop, a landscaped pedestrian and bike path connecting the community to other nearby amenities.
“The Loop will be where The Metropolitan comes to life,” said Walt Brown Jr., CEO of Diversified Partners. “It’s not just shopping or dining; it’s about creating a sense of place where people want to be.”
The Metropolitan is being developed by Concord Wilshire in partnership with TLG Investment Partners, led by Leland Pillsbury and Christopher Nieberding, and CDS International Holdings, led by CEO Bill Milmoe. Stay tuned as we learn more!
