Photo courtesy of The Shops at Lake Pleasant
Leading shopping center owner and manager Vestar started a $50 million construction project EARLIER this summer to expand The Shops at Lake Pleasant. The new addition will span across 16 acres, enhancing the existing 650,000 square-foot Lake Pleasant Towne Center with an additional 90,000 square feet of retail and restaurant outlets.
The Shops at Lake Pleasant, situated on the northeast intersection of Happy Valley Road and Lake Pleasant Parkway, is one of five shopping centers Vestar is currently developing in the greater Phoenix area. The expansion project, expected to reach completion by fall 2023, signals the continuing growth in the region.
The state of Arizona provided the land for the project, while Vestar entrusted the design and construction work to Upward Architects and the Chasse Building Team. The expansion will introduce a unique assortment of both local and national vendors to the shopping center. A few prominent names include OverEasy, Visionworks, Cinnaholic, European Wax, Raising Cane’s, Handel’s Ice Cream, Wild Fork, Honor Health, Christian Brothers Automotive, and Panda Nails.
This expansion project is part of Vestar’s broader strategy to address the rapid population growth and the corresponding demand for more shopping and dining options in the northwest area of Valley, specifically in Peoria. Over the past five years, the region has seen a surge in the number of residents, making these development projects pivotal for the community.
Vestar’s ongoing projects in the Phoenix area total over 1.5 million square feet of retail space. In addition to The Shops at Lake Pleasant, the company is developing Queen Creek Crossing and Vineyard Towne Center in Queen Creek, Verrado Marketplace in Buckeye, and Laveen Towne Center in Phoenix.
As Vestar moves ahead with the expansion, the anticipation is high for what The Shops at Lake Pleasant will bring to Peoria when its doors open in fall 2023.
