Categories
Local Real Estate Development, Phoenix Neighborhood Highlights, Relocation NewsPublished July 2, 2025
What's being built near the former Paradise Valley Mall?
Location: 4675 E. Paradise Village Pkwy., on the northeast corner of the redeveloped Paradise Valley Mall property.
Description: A 335-unit luxury apartment building in northeast Phoenix will soon join the slate of developments going up at the former mall, known simply now as PV.
Transwestern Development Company is building the four-story complex on nearly 5 acres of land at the former mall site.
When complete, the 300,000-square-foot property will include a pool on the roof of the parking garage. There will also be three courtyards on the ground floor, including a small dog park.
History: In 2021, the mall was demolished to make way for the 100-acre redevelopment project near Tatum Boulevard and Cactus Road.
Phoenix-based RED Development has been leading the overall project, envisioning PV as a modernized shopping, dining and entertainment destination, complete with multifamily housing.
A 400-unit apartment complex called AVE Paradise Valley recently opened. Nearby, Life Time, an athletic country club, is being built to also include luxury apartments.
Transwestern jumped into the mix last summer, when it bought its portion of the property from RED for $20 million. Construction of Transwestern’s apartments began last fall.
When will the work be done? Transwestern is building the complex in two or three phases, with plans for the first set of units to be available in late 2026 or early 2027.
Final Thoughts
The redevelopment of the former Paradise Valley Mall is more than just a facelift—it’s a bold reimagining of what modern living in Phoenix can look like. With luxury apartments, curated amenities, wellness-centered spaces, and walkable access to dining and shopping, PV is becoming one of the city’s most dynamic new hubs.
For out-of-state buyers or renters considering a move, this transformation signals a strong investment in lifestyle-driven communities. It’s not just about square footage—it’s about convenience, quality of life, and being part of a neighborhood that’s growing with intention.
If you're looking for a vibrant, future-focused place to call home in the Valley, keep your eye on PV. This could be where your Arizona story begins.
Are you buying or selling a home?
When are you planning on buying a new home?
Are you pre-approved for a mortgage?
Would you like to schedule a consultation now?
When are you planning on selling your home?
or another way