Shopping mall revitalization seems to be a hot topic lately, so much so we decided to revisit this issue, recently covered here.
In an article, grandly titled “Why Is It So Gosh Darn Hard to Redevelop a Mall?”, authors look at the state of some large shopping malls in the Cincinnati OH area. Generally speaking, outside of some Tier 1 malls, the less blessed locations are on the verge of being bought up for renovation.
The problems of Cincinnati mall redevelopment are emblematic of the rest of the country, notes the author.
What grabbed our attention is that the observation made about the most successful of the mall projects, City Center Springdale – a redevelopment of the former Tri-County Mall. What makes this project so promising is the mixed-use approach, to include a community of 1,300 apartment units, 168,000 square feet of retail and restaurants, 30,000 square feet of entertainment, lodging and medical uses, according to WCPO 9 News and the city council’s agenda.
This is exactly what the forward-thinking designers and developers see as the future of the shopping malls in this country, as we wrote in the previous post. It feels good to see your thoughts validated.
As we said, retail demographic analysis still rules the game of retail site selection. For assistance with selecting and retaining the optimal tenants, compatible with your local target audience, and delivering to your “hub” a stable flow of customers, contact Ticon.
