Can aging greyfield sites be converted into mixed-use developments, moving from a horizontal retail structure into a vertical medley, with office and residential components?
"...Greyfield malls -- typically under-performing malls that are three-decade-old and have 350,000 square feet of leasable space and a minimum of 35 store spaces -- have emerged as troubling specters increasingly endemic across our expanding cityscapes. According to the Greyfield Regional Mall Survey, the 2001 Congress for the New Urbanism (CNU)/ PriceWaterhouseCoopers study, which coined the term and first brought this category into perspective, some 19% of U.S. regional malls will fall into the grey zone in the next five years...One possibility that has emerged is the conversion of greyfield sites into mixed-use developments."
Thanks to REIS, Inc.
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