Prescribing New Life for Dying Malls

7 April 2009 - 5:00am

A panel of experts weighs in on what cities should do with their dying shopping malls.

"As the recession deepens, the retail industry continues to take a huge hit. Nowhere is this more visible than in the rising vacancy rate in shopping malls across the country. Mall owners are gambling on various businesses to draw people in, from water parks to educational services. What happens, or should happen, to dying or dead shopping malls?"

The New York Times asks:

* Ellen Dunham-Jones and June Williamson, architecture professors
* Helene Klodawsky, director of “Malls R Us”
* Peter Blackbird, founder of deadmalls.com
* James J. Farrell, historian
* Joel Kotkin, NewGeography.com

Source: The New York Times, April 4, 2009
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There is lots of theory, and lots of wonderful mathematics, and even lots of dealmaking. But the financial engineers are not real engineers who take responsibility for the bridges that fall down. They have no notion of a safety factor.