Key Points
- More
people are living at American malls as real estate developers knock
down department stores and construct apartment buildings in their place.
- At
least 192 U.S. malls planned to add housing to their footprint as of
January 2022, and at least 33 had constructed apartments since the
pandemic began. Dozens more apartment projects are currently underway in
California, Florida, Arizona and Texas.
- The trend not only helps to chip away the housing shortage in the U.S., but also brings people closer to the remaining retail and restaurant spaces in shopping centers.
Say hello to life at the mall.
The classic American mall is undergoing a dramatic transformation as real estate developers swap out dying department stores for apartments, ushering in an era where living at the mall could soon become a new norm...
The classic American mall is undergoing a dramatic transformation as real estate developers swap out dying department stores for apartments, ushering in an era where living at the mall could soon become a new norm...
RSK: The Grand Avenue Mall in Milwaukee is one of the featured success stories. On a different note, the old WestGate Mall on WHitney and Odana Rd in Madison was gutted and medium rise apartment buildings now take its place....retail is to be included in the last part of the project.
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- - Volume: 24 - WEEK: 51 Date: 12/17/2024 3:54:27 PM -