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New AI venture studio will be hosted at Palo District at site of former Fiesta Mall in Mesa

Mesa Fiesta Mall demolition scrap metal pile and sign
Tim Agne/KJZZ
A pile of scrap metal during demolition of Mesa’s Fiesta Mall on Aug. 31, 2023. The Fiesta Mall sign remains visible from the U.S. 60 freeway.

The new Palo District at the site of the former Fiesta Mall in Mesa will host a so-called AI venture studio.

The business will be a place where startups can pitch an AI product and have it developed with the backers LG Electronics and the venture capital firm NovaWave.

“To be able to figure out: how do you commercialize and make these really great problem-solving ideas into reality?” said Vicki Mayo, CEO of Sunny Day Sports and founder of the Palo District.

The business venture studio is expected to be housed inside the women’s health campus Mayo announced last month. She says she envisions office buildings, mixed-use retail, residential units and a stadium facility there.

But she did not provide details on when some of those plans will come to fruition.

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Greg Hahne started as a news intern at KJZZ in 2020 and returned as a field correspondent in 2021. He learned his love for radio by joining Arizona State University's Blaze Radio, where he worked on the production team.