Staff Reports | Business & Construction
Concord Wilshire Capital has completed demolition of the former Metrocenter Mall and named Oakwood Homes as the exclusive residential builder for The Metropolitan, an $850 million mixed-use development in Phoenix.
The 64-acre project is designed to transform the former mall site into a walkable urban village that integrates light rail access with housing, entertainment, dining and retail, according to a press release.
“We are pleased to announce that we 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,” said Nate Sirang, president of Concord Wilshire, in a prepared statement. “Their values, resources and design flexibility align with our goals and the needs of today’s housing market.”
Construction is scheduled to begin in April 2026 for three of the five planned residential communities, with the remaining two and the retail district starting in April 2027. Planned residential communities include:
- Terra Court: 144 townhomes near the light rail, priced from the low $400,000s. All units have been pre-sold.
- Luna Villas: 314 townhomes starting in the low $500,000s. Half of the units have been pre-sold.
- Levante Apartments: A 350-unit multifamily project developed by Concord Wilshire and Hines, also fully pre-sold. A shared parking structure will serve both the apartments and retail center.
- Brava: 290 premium townhomes, with construction beginning in April 2027 and prices 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, chief operating officer of Oakwood Homes. “The communities will feature a blend of Spanish Colonial and Contemporary Mediterranean design elements. We look forward to delivering the finished townhomes efficiently.”
Diversified Partners, a Scottsdale-based commercial and retail real estate firm, is leading development of The Loop at The Metropolitan, a retail and entertainment district. The Loop will include 116,000 square feet of boutique retail, rooftop restaurants, an event center, park plaza, live music venues, a splash pad and a weekly farmers market. It will also feature The Track at the Loop, a landscaped pedestrian and bike pathway connecting the development to nearby transit lines.
“The Loop will be where The Metropolitan comes to life,” said Walt Brown, CEO of Diversified Partners. “It’s not just about shopping or dining—it’s about creating a sense of place where people want to be.”
The project is led by Concord Wilshire in partnership with TLG Investment Partners, a Fort Lauderdale-based firm led by Leland Pillsbury and Christopher Nieberding, and CDS International Holdings, a family office led by Bill Milmoe.
