The Transformation of Paradise Valley Mall

by Chris Gerardo

Paradise Valley Mall (PV Mall) holds a unique place in the history of retail development in Arizona, and I’ve spent a lot of time reflecting on its evolution over the years. Originally developed by Westcor under the leadership of Rusty Lyon, the mall opened its doors in 1978, following the success of Metrocenter. At its peak, PV Mall was a thriving retail hub. I remember it being anchored by Diamond’s, Goldwater’s, and JCPenney, and later expanding to include Sears and Broadway Southwest.

As the retail landscape changed, the mall started to lose its edge. Developments like Kierland Commons and Desert Ridge Marketplace offered a fresh, open-air shopping experience that drew customers away from the traditional enclosed mall format. Over time, we saw Broadway Southwest close its doors, Goldwater’s transition to Robinsons-May and eventually Macy’s. Sears struggled to hang on, and in the end, only Dillard’s, Macy’s, and JCPenney remained as anchors before the mall’s final chapter.

The transformation of Paradise Valley Mall really took shape when RED Development acquired the property from Macerich, the successor of Westcor. I’ve been so impressed with how RED approached the redevelopment, reimagining the site as a vibrant mixed-use destination. They started by relocating the small Whole Foods store about a mile south to become the anchor for the first phase of redevelopment. Now, Whole Foods is surrounded by complementary shops like Sephora and popular restaurants such as Flower Child, Blanco, Federal Pizza, and Trevor’s.

I’ve watched as they introduced 400 residential apartments, a Lifetime Fitness center, and even a new corporate headquarters for Fender Musical Instruments Corporation. The site has truly come alive again. The only building that remains from the original mall is the JCPenney store, which serves as a nostalgic reminder of its history.

I often find myself wondering what Rusty Lyon would think if he could see this transformation. Rusty was such a visionary - he developed so many of Arizona’s iconic malls, including PV Mall. I’ve heard stories about how he’d sometimes fly a helicopter from his home in Carefree to his office just a quarter mile south of the mall. That bold, forward-thinking attitude feels so fitting for what’s happening now.

Today, Paradise Valley Mall is undergoing a remarkable rebirth. RED Development has done an incredible job blending retail, residential, and corporate elements to create a dynamic and thriving community hub. As this redevelopment continues, I’m excited to see how PV Mall evolves and thrives in the years to come. Rusty Lyon’s legacy lives on in this reimagined space, and it feels like a fitting tribute to his pioneering contributions to Arizona’s retail landscape.