Retail Traffic Magazine reports that the indoor mall, long declared dead, has weathered the storm of the recession better than expected -- and better than many retail concepts imagined as the next big thing.
Elaine Misonzhnik writes, "In the first quarter of 2010, regional malls posted an average vacancy rate of 6.0 percent, a 130 basis points below the vacancy rate for specialty centers and 170 basis points below the vacancy rate for U.S. retail space overall, according to a report from the CoStar Group, a Bethesda, Md.–based research firm."
Why? One interviewee explains that many traditional malls were built at a time when the prime locations were still available and they continue to benefit from the demographic draw.
FULL STORY: Developers Rethink the Mall for the 21st Century
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Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
New Park Opens in the Santa Clarita Valley
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U.S. Supreme Court: California's Impact Fees May Violate Takings Clause
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How Urban Form Impacts Housing Affordability
The way we design cities affects housing costs differently than you might think.
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