A six-story apartment building could be the latest addition to a central Phoenix shopping center.
RED Development, the Phoenix-based developer of PV, the redeveloped Paradise Valley Mall, submitted an application to Phoenix requesting to redevelop a surface parking lot at the Camelback Colonnade into an apartment building.
According to the application, the apartments would be built on 2.44 acres of the parking lot, located on the southwestern side of the shopping center. The building would include 216 units, ranging in size from studios to two bedrooms. The project is east of State Route 51, south of Camelback Road.
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The proposal does not include the Century Branch of the Phoenix Public Library, which is south of the site.
Stores at the Camelback Colonnade include HomeGoods, Floor & Décor, Last Chance, Marshalls, Old Navy and Five Below.
A representative from RED Development declined to comment on the proposal.
Adding residential uses to retail centers has become a common tactic for revitalizing large-scale retail developments. One of the first components to open at the PV redevelopment was an apartment building, which creates built-in customers for retailers and restaurants on the site.
Several new shopping centers proposed and redeveloped around the Valley have leaned into residential uses. In Laveen, Phoenix mall developer Vestar is planning a 500,000-square-foot shopping center near 59th Avenue and Dobbins Road. The project will be on a 90-acre site, with 40 acres dedicated to retail and 50 acres planned for housing.
RED Development’s proposal is scheduled to be discussed by the Phoenix Planning Commission on Oct. 1.
Reporting by Corina Vanek, Arizona Republic
