Vestar Buys 20 Acres for North Phoenix Center
The Phoenix-area developer plans Black Mountain Village, a grocery-anchored retail center at Black Mountain Parkway and Deer Valley Road.
Updated on Nov. 5, 2026 in Commercial
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Vestar has acquired a 20-acre parcel from the Arizona State Land Department at Black Mountain Parkway and Deer Valley Road in North Phoenix. The company plans to develop Black Mountain Village, a grocery-anchored retail center in the Desert Ridge community.
Why it matters
The project aims to address limited access to quality grocery, dining and neighborhood retail in North Phoenix, which is experiencing residential growth. It represents an investment of more than $50 million in the area's retail offerings.
The developer's announcement cites a 20-acre site and a planned 120,000 square feet of retail space, anchored by a 65,000-square-foot grocery store. Tenant names and a construction schedule have not been disclosed.
The players
Vestar
Vestar is a Phoenix-area commercial real estate developer that has built several shopping centers across the Valley.
Arizona State Land Department
The Arizona State Land Department manages state trust land and sold the 20-acre parcel to Vestar.
The details
Vestar purchased the parcel from the Arizona State Land Department. The project will include pedestrian-friendly walkways, shaded outdoor gathering areas and landscaping.
Timeline
November 5, 2026: Vestar announces the parcel acquisition.
Coming months: Tenant announcements and development timelines are expected to be shared.
Roadmap
Black Mountain Village extends the grocery-anchored model Vestar built at Desert Ridge Marketplace, which the developer has since replicated in Tempe, Queen Creek and Verrado. The North Phoenix site follows that same pattern of pairing a large grocery store with neighborhood retail in a growing residential area.
North Phoenix residents may gain nearby access to a 65,000-square-foot grocery store and additional dining and retail once the center opens. The project's opening date has not yet been set.
The takeaway
Residents of North Phoenix and the Desert Ridge area should watch for tenant announcements, which will show what shopping and dining options the new center will offer.
What happens next
Vestar is expected to announce tenants and development timelines for Black Mountain Village in the coming months.
Further reading
For more on local retail development, see Commercial listings across the Phoenix area.
Live Poll
Would a new grocery-anchored center improve shopping options in your neighborhood?
