Drive past Cactus Road and Tatum Boulevard often enough and you stop reading the construction fencing. Two years of banners promising something new eventually blur into scenery. Then one Wednesday the fencing comes down for real, and a restaurant that's been "coming soon" since last spring finally turns its lights on.
That happened Wednesday: Harry & Izzy's, the sister restaurant to Indianapolis's St. Elmo Steak House, opened its doors at PV, marking Huse Culinary's first restaurant outside Indiana. The 8,300-square-foot building seats 340 across the dining room and a 2,400-square-foot patio, and Hall of Fame quarterback Peyton Manning, already part of the Harry & Izzy's ownership group in Indianapolis, is a partner in this location too. Huse Culinary announced the project in April 2025 with a target of the second quarter of 2026, a window that closed June 30. The opening came almost two months past that.
Two Projects Share the Same Name
Worth clearing up before anything else: "PV" is RED Development's brand name for its 100-plus-acre redevelopment of the old Paradise Valley Mall, sitting inside Phoenix city limits near Cactus Road and Tatum Boulevard, in the 85254 zip code. It is not the incorporated Town of Paradise Valley six miles south, where resorts like the Camelback Inn have anchored the local economy for decades. Both places share a name and a general compass direction, so news about one gets mistaken for news about the other more often than it should. If you live near Cactus and Tatum, the project reshaping your dinner options is the Phoenix one. The town's separate growth story is happening somewhere else entirely.
What's Already Running
Here are some of the businesses already open:
- Whole Foods Market relocated here on October 16, 2024, moving out of its previous spot near Shea and Tatum after more than two decades there and into a store that tops 50,000 square feet.
- Trevor's Liquor took over the former Sears Automotive and Tire Center building on Tatum and turned the 14,000-square-foot space into a full bar, a full-service restaurant, a golf simulator, and a cigar lounge.
- Velvet Taco opened its second Arizona location here in March, serving tacos built around global flavors like chicken tikka masala and Korean-style fried rice.
- Life Time Paradise Valley opened April 30, a 91,000-square-foot athletic club with a rooftop pool deck, seven pickleball courts, and a full-service spa.
- lululemon held its grand opening weekend July 24 through 26 with an in-store DJ.
- The earlier wave, dating back to fall 2024, brought Flower Child, Blanco Reserva Cocina + Cantina, The Melt, Wren House Brewing, Federal Pizza, and Sephora.
That's a real neighborhood now, not a rendering. The businesses listed below have followed different opening timelines.
Opening Timelines
The opening dates announced by RED Development and its tenants have varied.
| Business | Announced Timeline | Status as of August 2026 |
|---|---|---|
| Life Time Paradise Valley | "2026" | Opened April 30, on schedule |
| Velvet Taco | "2026" | Opened March, ahead of most peers |
| Whole Foods relocation | Part of Phase One, fall 2024 | Opened October 16, 2024, on schedule |
| Harry & Izzy's | Q2 2026 (announced April 2025) | Opened Wednesday, about two months past its own window |
| The Vig | "2026," no quarter given (announced March 2025) | Confirmed for this fall as of a June 2026 update |
| Too Sweet Cakes | Q2 2026 (announced April 2026) | No confirmed opening yet, and that window already closed |
| Cala | "2026" only, never given a narrower window | Still no specific date more than a year after the announcement |
Opening dates have varied among the tenants listed here. Several retailers and fitness businesses opened close to their announced windows, while some restaurant openings came later.
Restaurant Opening Details
The businesses listed here include national retailers, fitness brands, and restaurants, with different opening timelines.
The Vig's PV location was designed around adobe brick sourced from one of Arizona's last remaining adobe suppliers, paired with copper accents and floor-to-ceiling windows meant to echo the mall's 1978 mid-century roots. Cala's announcement gave a "2026" target without a narrower opening window.
The Old Mall Refuses to Fully Leave
Even with a $2 billion redevelopment reshaping the block, three pieces of the original 1978 Paradise Valley Mall never moved: Costco, JCPenney, and a branch of the Phoenix Public Library. None of them are part of RED Development's phased construction. All three have been sitting inside an active construction zone since the rest of the mall was demolished in 2021, doing business exactly as they did when the mall was still a mall. It's the clearest reminder on the property that a redevelopment this size doesn't erase a place all at once. It builds around the parts that were already working.
Planning a Visit Near Cactus and Tatum
If you're deciding what to do with a Tuesday or a Wednesday night near Cactus and Tatum, here are a few options. RUN PV, a free weekly community run welcoming all paces, meets every Tuesday at 6:30 p.m. through the Phoenix Run Club. The Park at PV, a three-acre green space with an amphitheater and a putting green, hosts the concerts and movie nights that give the property its gathering-place feel. Earlier this week, Harry & Izzy's opened its doors Wednesday, with The Vig's custom-built patio next door now confirmed for this fall.
If you're timing a visit around something you read was "coming in 2026," the opening dates in the table show that timelines have varied.
Watching how a corner of your own city gets rebuilt, restaurant by restaurant and quarter by quarter, is its own kind of homework. If you're thinking about what that kind of change means for property nearby, or you're weighing a move somewhere else in the Phoenix area entirely, Sacha Blanchet Fine Homes is glad to talk through it. Request a free consultation or home valuation whenever you're ready.
