Denver builder withdraws from Metrocenter
Oakwood Homes has withdrawn from the $850 million Metrocenter redevelopment project, with a replacement builder expected to be named next week.
The Denver-based homebuilder, which was selected as the exclusive homebuilder at The Metropolitan last fall, notified the master developer about a month ago of its plans to withdraw from the project.
“After careful consideration, we made the decision not to move forward as the residential builder at The Metropolitan in Phoenix,” Michael Fraley, Arizona division president for Oakwood Homes, told the Business Journal.
“We made this decision early in the process and on amicable terms to give the development team time to identify a new residential partner,” Fraley said. “We value the collaboration and appreciate the opportunity to have been part of the project’s early vision.”
Demolition of the former Metrocenter mall was completed in 2025. The Metropolitan is set to feature more than 100,000 square feet of retail space surrounded by somewhere between 1,100 and 1,200 residential units, including apartments and townhomes, Fraley said.
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