Life Time Joins Phoenix Mall Redevelopment
Upon completion, PV will feature more than 3,000 units.
Life Time Living Paradise Valley. Rendering courtesy of RED Development
Life Time has joined RED Development in the construction of PV, the 100-acre mixed-use redevelopment of Paradise Valley Mall in Phoenix.
During the project’s second phase, the healthy lifestyle-focused company intends to build more than luxury 300 apartments operating under the Life Time Living brand, expected to come online in 2026, as well as a 92,000-square-foot athletic country club.
Upon completion, Life Time Living Paradise Valley will be an 11-story tower with one- and two-bedroom units, along with penthouse layouts, ranging from 850 to 2,100 square feet. Resident facilities will include a fitness center, rooftop pool with jacuzzi, meditation area, grilling areas and EV charging stations.
A collaborative Phoenix project
Developed in multiple phases, PV will encompass more than 3,000 apartments at full build-out. The first phase will comprise 400 units developed by StreetLights Residential, together with a Whole Foods Market, a Harkins dine-in theater and three restaurants. Delivery is expected in 2024.
StreetLights broke ground on its part of the project in February, financing its construction with a $96.7 million loan from Western Alliance Bank, according to Yardi Matrix data. The community is slated to incorporate studio, one-, two- and three-bedroom residences. Amenities will feature a swimming pool, two fitness centers, a pet park and an indoor pet spa.
Located at 4568 E. Cactus Road, the mall redevelopment site is in an Opportunity Zone, some 18 miles northwest of downtown Phoenix. Numerous retail, dining and entertainment options, part of PV as well as outside of it, will be within walking distance for the residents.
