If you live within a short drive of Cactus Road and Tatum Boulevard, the construction fencing you have been watching for two years is finally producing dates. Not vague "coming soon" dates. Actual openings, most of them within the next twelve months, followed by a second wave scheduled for 2027.
The thing worth understanding, if Paradise Valley Village is your neighborhood, is that the former mall site is not opening as a mall. It is opening as a phased outdoor core, one building at a time, around a central park. Which means the answer to "when is PV finished" is less useful than the answer to "what actually opens this fall, and what still requires patience." Here is the working calendar.
The Summer 2026 Wave
The near-term openings are anchored by fitness, then dinner.
- Life Time Paradise Valley. The 92,000-square-foot athletic club, described by Axios in late April as opening "next week," is the largest single tenant to come online this year. It includes Pilates and yoga studios, a spa, pickleball courts, and a rooftop pool club. It is the chain's eighth Arizona location.
- Harry & Izzy's. The Indianapolis-based upscale American grill from Huse Culinary, sister concept to St. Elmo Steak House, is slated for summer 2026 in a standalone building at the northeast corner of the park block. Roughly 8,300 to 9,000 square feet depending on the source, with the classic St. Elmo shrimp cocktail on the menu. First location outside the Midwest.
- The Vig. The Arcadia-born tavern's eighth Valley outpost, planned around a semi-private desert garden patio, is also targeted for 2026. Design cues from the mid-mod era of the original mall, including adobe brick and copper accents.
These three matter together. A club, a steakhouse, and a tavern is a functional evening for a resident who lives four minutes away, and it is the first time the corner has offered that combination since the mall's dining wing thinned out years ago.
The Late-2026 Wave Around The Park Block
Once the summer anchors are open, the smaller restaurants ringing the park are scheduled to follow through the back half of the year and into early 2027.
Cala is the second location for chef Beau MacMillan's coastal-European concept, currently housed inside Senna House Hotel in Scottsdale. The PV build is 6,500 square feet, sited just west of Blanco Reserva Cocina + Cantina. MacMillan has said publicly he intends to elevate the menu at the second location rather than duplicate the first.
Federal Pizza is the more surprising signing. Upward Projects, the group behind Postino, had not opened a second Federal since the original a decade ago. CEO Lauren Bailey attributed the decision to sustained post-2020 volume at the flagship and the appetite for a north-side counterpart.
Too Sweet Cakes is bringing its first brick-and-mortar outside of Gilbert to a 1,700-square-foot space just north of Cala, with a walk-up coffee window and open cake-decorating counter. The owner's calling card is a three-day cronut with a hundred layers of pastry.
Velvet Taco, the Dallas-born fast-casual, opened its PV location earlier this spring in a space just under 2,000 square feet, joining its Old Town Scottsdale sibling.
Wren House Brewing is still finishing construction on its PV taproom, a project first announced with a 2025 target that has slid.
A Quick Reference For Residents
| Opening window | Tenant | What it is | Size |
|---|---|---|---|
| Now open | Whole Foods Market | Relocated Phoenix flagship, 330+ Arizona-made items | 50,000+ sq ft |
| Now open | Blanco Reserva, Flower Child, The Melt, Trevor's Liquor, Velvet Taco | Restaurants and bar concepts | Varies |
| Summer 2026 | Life Time Paradise Valley | Club, spa, pickleball, rooftop pool | 92,000 sq ft |
| Summer 2026 | Harry & Izzy's | American grill from Huse Culinary | ~8,300–9,000 sq ft |
| 2026 | The Vig | Tavern with desert-garden patio | Not disclosed |
| 2026 | Cala | Coastal-European, Chef Beau MacMillan | 6,500 sq ft |
| 2026 | Federal Pizza | Second Valley location | Not disclosed |
| Q2 2026 | Too Sweet Cakes | Bakery and walk-up coffee | 1,700 sq ft |
| 2027 | OBON | Tucson-born sushi and ramen | Not disclosed |
| 2027 | Culinary Gangster | Chef-driven all-day scratch kitchen | 3,022 sq ft |
| 2027 | Life Time Living | For-lease residences integrated with the club | 335+ units on-site total |
Sources: RED Development announcements reported by Axios Phoenix, Phoenix New Times, AZ Big Media, and City Sun Times between March 2025 and April 2026.
What 2027 Actually Adds
The April 24 announcement from RED added a distinct second wave that is worth separating in your mental calendar, because it changes the character of the corner from "food, groceries, and fitness" to something closer to a full daily use pattern.
The 2027 tenants:
- OBON, the Tucson-born sushi bar and ramen concept, expanding to its third Valley location.
- Culinary Gangster, the father-and-son scratch kitchen that started as a food truck. The PV outpost will be their fourth around the Valley and their first all-day format, with the "Spicy Gangster" burger as the signature.
- Helios Pilates, a San Diego studio placing its third overall location at PV after opening its first Arizona site in Scottsdale this year.
- Lululemon, Escapology escape rooms, WeWhiten, and Next Health, all announced in the same batch.
- Life Time Living, the residential half of the fitness project. Per Axios, it will connect to the club by walkway, with free membership included for residents.
RED's Jeff Moloznik told Axios, "By this time next year, this will be a dramatically different place." That is a marketing quote, but the tenant math backs it: seven newly announced concepts on top of the four restaurants already under construction, layered onto the summer anchors.
The Park Is The Point
If you drive through PV today, the most interesting thing is not any single building. It is the green rectangle in the middle. Blanco already sits on its western edge. Harry & Izzy's will sit on the northeast corner. Cala and Too Sweet Cakes will sit on the west side. Federal Pizza will front it as well. The intent, stated repeatedly by RED, is to bring the walkability of the original enclosed mall into an outdoor format.
"The 100-acre redevelopment project is only about half finished, and it'll likely be completed in 2030." — Jeff Moloznik, RED Development, in Axios Phoenix, April 24, 2026.
For a Paradise Valley Village resident, that timeline is useful in two directions. It says the corner will remain a construction site through the end of the decade, which is a real cost. And it says that by the end of 2026, the park block will have enough operational tenants that residents can plan an evening around it without leaving the neighborhood. Those two facts are not in tension. They are the shape of a project being built in dated waves rather than a single ribbon-cutting.
Two adjacent facts round out the picture. Fender Musical Instruments Corporation is relocating its headquarters from Scottsdale to a three-story building on the site, adding office population to the daytime mix. And a 335-unit luxury apartment community from Transwestern is under construction, with first units targeted for late 2026, on top of the 400-unit AVE Paradise Valley that began leasing in fall 2024. Roughly 3,000 residential units are planned across the full build-out.
What To Watch Next
Three things a resident can track without waiting for a press release.
- Harry & Izzy's exterior work. Once the standalone building on the northeast corner is glazed and landscaped, the summer opening window is real. Watch the park block northeast corner.
- Wren House's slipped timeline. The brewery was originally announced for 2025. A revised opening date would be a useful signal that the smaller in-line tenants are close.
- The seafood restaurant and a breakfast concept, both teased by RED's Mike Kallner last spring as "actively" being pursued. Neither has been announced. If either lands, the daily use pattern shifts from dinner-heavy to full-day.
The larger point for anyone who already owns nearby is that PV is no longer a redevelopment you drive past. It is a rolling series of openings scheduled month by month for the next four years, with the highest-density wave landing between now and the end of 2026. The corner you have known since 1979 as one thing is finishing its second life as something else, and it is doing it publicly, on a calendar you can plan around.
If you have been holding property in Paradise Valley Village and want a private read on what the phased openings mean for your specific block, MP Real Estate Group offers a discreet, one-to-one review with a managing partner. Schedule a private consultation to talk it through.
