By Diversified Partners
Developer Concord Wilshire Capital announced it has completed demolition of the mall and Oakwood Homes has been named the exclusive residential builder for The Metropolitan, an $850M mixed-use destination project. The 64-acre development is set to transform the former site of the Metrocenter Mall into a walkable urban village integrating Light Rail with housing, entertainment, dining, and retail.
“We are pleased to announce that we have selected Oakwood Homes, a division of Clayton Homes and a subsidiary of Berkshire Hathaway, as our exclusive residential builder and partner for The Metropolitan project,” said Nate Sirang, president of Concord Wilshire. “Their company’s values, extensive resources, design flexibility and proven ability to efficiently deliver high-quality custom-designed townhomes made Oakwood Homes a natural fit for The Metropolitan, aligning perfectly with our needs and the demands of today’s dynamic housing market,”.
Construction is scheduled to commence in April 2026 for three of the five planned residential communities, and in April 2027 for the retail and remaining two residential communities. Terra Court, which is located near the Light Rail, will feature 144 townhomes at entry-level prices starting in the low $400Ks, 100% of which have already been pre-sold. Luna Villas will offer 314 townhomes at mid-level prices starting in the low $500Ks, 50% of which have already been pre-sold. At the center of the project is a 350-unit wrapped multifamily project called Levante Apartments, which is being built by Concord Wilshire and Hines. The parking structure will serve both the multifamily apartments and retail center.
The construction of the Brava residential community, which offers 290 townhomes, will commence in April of 2027 and will offer premium townhomes at prices starting in the low $600Ks.
Diversified Partners is the retail developer and is partnering with Concord Wilshire to develop The Loop at The Metropolitan. The Loop is an experience-driven retail village and entertainment district which will feature 116KSF of curated boutique retail, rooftop restaurants and event center, activated park plaza, live music venues, a splash pad and a weekly farmers market. The retail district will also be integrated with The Track at the Loop, a landscaped pedestrian walkway and multidirectional bike pathway that encircles The Metropolitan and connects residents, visitors and nearby transit lines.
The project is led by Concord Wilshire, a nationally recognized real estate development firm, in partnership with TLG Investment Partners, and CDS International Holdings.
