A new study by the Congress for the New Urbanism shows that failed regional shopping malls could become vibrant new neighborhoods, and profitable developments. The study finds that well over 100 enclosed regional malls are already in steep decline in the United States, and many more are at imminent risk. In the current epidemic of large retail store closures, the study provides a new direction for cities and towns worried about the blight of a failed mall."This is the first study to clearly show that some of these shopping centers are past their day," says Ellen Greenberg, Director of Policy and Research at the Congress for the New Urbanism (CNU), which led the study. Steve Laposa, Director of PricewaterhouseCoopers Global Strategic Real Estate Research Group, conducted the economic analysis that forms the backbone of the new study," which looked at over 3,000 malls.
Thanks to Congress for the New Urbanism