"The mall is becoming cool again," said Jacob Knudsen, the vice president of development for Macerich, which is currently redeveloping the FlatIron Crossing Mall in Broomfield, Colorado to add housing. "So being able to live by it, work by it, play by it, go to restaurants by it, we're definitely seeing this as a trend."
In other cases, they've built apartments inside of shuttered storefronts and other shopping center properties or gutted them altogether to make way for a mix of housing, retail, restaurants, outdoor spaces and experiences.
As companies like Macy's, JCPenney and Sears shrink or cease to exist altogether, real estate developers have been forced to get creative to repurpose those spaces, which typically take up at least half of a mall's footprint.
It's clear that consumers still enjoy shopping in person after the Covid pandemic, but the traditional anchor department store has been in decline since 2001 and is no longer the draw it once was.
Collection
[
|
...
]