Mall Developers Eye Massive Expansion
Once a commercial dinosaur, the shopping center gets a new lease on life from redevelopment, reinvestment, and a rebounding economy.
After a period of sluggish growth and languid sales, the traditional mall stands poised for a comeback, at least according to the International Council of Shopping Centers' latest convention in Las Vegas. Some malls, once considered a retail anachronism in the era of e-commerce and Wal-Mart, have been converted into mixed-use 'lifestyle centers' offering office, retail, and residential space in one project. Yet with interest rates low and a revived economy in the future, developers have as much as 140 million square feet of new shopping center space in the works.
Thanks to Jeffrey Goodman
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Published on Tuesday, June 1, 2004 in
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