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Malls seem like the perfect mixed use type property. Stores on 1 floor, offices on 2nd floor, then 2-3 floors of housing. 1 of the big department stores could be a grocery store.
Malls seem like the perfect mixed use type property. Stores on 1 floor, offices on 2nd floor, then 2-3 floors of housing. 1 of the big department stores could be a grocery store.
Things like this exist in some city centers - but I’ve never seen one in the normal areas malls lurk. The three types usually try to stay some distance from each other unless forced together by exorbitant land prices. The surviving stores that used to be anchor candidates seem to be happy being on their own in a sea of dedicated parking.
USA Malls are a symptom of car sprawl, and are textbook terrible landuse planning; they happen to have a super-simple business formula and appeal to certain fiefdom's egos.. cannot be fast enough for these formats to dry up, in my opinion
Earlier quoted context omitted.
Things like this exist in some city centers - but I’ve never seen one in the normal areas malls lurk. The three types usually try to stay some distance from each other unless forced together by exorbitant land prices. The surviving stores that used to be anchor candidates seem to be happy being on their own in a sea of dedicated parking.
Wonder if zoning laws have a big effect on that.
Earlier quoted context omitted.
Things like this exist in some city centers - but I’ve never seen one in the normal areas malls lurk. The three types usually try to stay some distance from each other unless forced together by exorbitant land prices. The surviving stores that used to be anchor candidates seem to be happy being on their own in a sea of dedicated parking.
Wonder if zoning laws have a big effect on that.
I hope they let the land revert to prairie, forest, swamp, or what was there before.
Malls seem like the perfect mixed use type property. Stores on 1 floor, offices on 2nd floor, then 2-3 floors of housing. 1 of the big department stores could be a grocery store.
Things like this exist in some city centers - but I’ve never seen one in the normal areas malls lurk. The three types usually try to stay some distance from each other unless forced together by exorbitant land prices. The surviving stores that used to be anchor candidates seem to be happy being on their own in a sea of dedicated parking.
Malls seem like the perfect mixed use type property. Stores on 1 floor, offices on 2nd floor, then 2-3 floors of housing. 1 of the big department stores could be a grocery store.
Finally, there is the issue of investment. There are big pots of money for each use...investors who invest in retail, office, and residential. The pots of money for non-conventional projects are much much smaller. One reason is that with mixed use, there are three economic cycles that have to be timed. The retail, office, and housing sectors don't cycle in lock-step.
Your good ideas in real-estate only have legs if you have the money to make them happen. And the time. You're talking a several hundred million dollars and a decade optimistically down the happy path. More likely more since most mall land is already malls and you will have to acquire multiple parcels from multiple owners without them being the wiser and holding out for premium prices.
[1]: Retail uses produce so much income that it makes sense for them to sit vacant for many years instead of converting to some other use.