Fiesta Redefined: Massive Redevelopment Coming to Former Fiesta Mall Site in Mesa — Here’s Everything You Need to Know

Big news for Mesa — one of the city’s most iconic but long-vacant spaces is finally getting a major transformation. Verde Investments has officially acquired the remaining 34 acres of the former Fiesta Mall site for $24 million, clearing the way for Fiesta Redefined, a massive mixed-use development that could change the landscape of West Mesa.

What Is Fiesta Redefined?

After years of decline and demolition, the former Fiesta Mall property — once a bustling retail hub since 1979 — is set for a comeback as a vibrant, mixed-use community.

Here’s what we know so far about the plans for Fiesta Redefined:

✅ 4,000 new housing units — a mix of apartments, condos, and possibly townhomes.
✅ Up to 1.85 million square feet of commercial space — think offices, shops, restaurants, and public spaces.
✅ Blended community design — including walkable areas, public gathering spaces, and potentially entertainment venues.

Who Is Behind the Project?

The redevelopment is being led by Verde Investments, owned by Ernest Garcia II, Arizona’s wealthiest resident and well-known businessman (also a major shareholder in Carvana and DriveTime Automotive). This latest acquisition gives Verde full control over the 80-acre site, which has been vacant since Fiesta Mall closed in 2018 and was demolished in 2023.

According to reports from ABC15 News and The Real Deal, Mesa city leaders have approved the redevelopment, calling it one of the "optimal uses of real estate within the city."

Why Fiesta Redefined Is a Big Deal for Mesa

✅ Revitalizes a long-neglected part of the city, breathing new life into West Mesa.
✅ Adds much-needed housing options, including modern apartments and residential units to support Mesa’s growing population.
✅ Creates opportunities for new businesses — from restaurants and retail to office space and entertainment venues.
✅ Helps attract developers, employers, and national brands, boosting the local economy and job market.
✅ Transforms a former mall site into a vibrant, mixed-use community, blending urban living with public spaces.

What Could This Mean for Mesa’s Real Estate Market?

From a real estate perspective, Fiesta Redefined could be a major catalyst for growth and increased property values in Mesa:

✅ For Buyers:

• New housing inventory could increase options in a competitive market.
• Walkable, mixed-use communities are in high demand, offering a modern lifestyle close to shopping, dining, and workspaces.
• Great opportunity for investors looking to buy into an emerging hotspot.

✅ For Sellers:

• Increased demand in the surrounding areas could raise home values.
• Properties near large-scale redevelopments typically become more desirable and attract higher offers.
• Potential for homeowners to capitalize on the growing appeal of West Mesa as a place to live, work, and play.

What’s Next for Fiesta Redefined?

While the timeline and specific tenants have not yet been announced, Verde Investments is actively seeking development partners to help bring this massive vision to life. The city has already been in conversations with national and regional developers expressing interest in the project’s potential.

A Fresh Start for an Iconic Site

Once a thriving mall that served the East Valley for decades, the Fiesta Mall site has been empty far too long. Fiesta Redefined promises to turn that empty land into a thriving community, reconnecting the area to the rest of Mesa and beyond.

If this is your first time here — welcome! I’m Jessica Vukobratovich.

I help buyers and sellers right here in Arizona’s East Valley, including Mesa, Gilbert, Queen Creek, Chandler, and San Tan Valley. I also share local updates, new developments, and real estate tips so you always know what’s happening in our community.

If you’re thinking about buying, selling, or just want to stay connected with what’s going on around town, make sure to follow along — and feel free to send me a message anytime!