The company had publicly stated that over a period of five to six years, it hoped to turn the property into a mixed-use development site, with retail, residential, medical and possibly college campus tenants.

Metrocenter will undergo a massive revitalization that will bring more retail and restaurants as well as office buildings, apartments, senior housing, and health-care facilities to the mall.

The City of Phoenix rezoned the mall to allow office, medical and residential space; it had been zoned for solely retail use.

[5] In a letter from general manager Kim Ramirez on June 19, 2020, Metrocenter Mall announced that they would be closing at the end of that month citing "the drop in our occupancy levels due to the COVID-19 pandemic.

"[6] After 47 years of service, Metro Center Mall was closed on June 30, 2020, due to low store occupancy levels following the COVID-19 pandemic, and failed rejuvenation projects to boost foot traffic.