The second largest mall owner in the nation will redevelop over 200 of its properties into mixed-use centers.
"General Growth Properties, the nation's second-largest owner of shopping malls, has decided to start redeveloping its more than 200 properties by adding housing, offices, hotels, and other elements - and applying New Urbanism's techniques in some locations. Thomas D'Alesandro IV, senior vice president of the Chicago-based company, told a session at CNU in Philadelphia that he foresees "the reinvention of existing malls into mixed-use centers.""
"The firm has quietly had Duany Plater-Zyberk & Co. work on a plan for redeveloping Utah's first enclosed shopping mall - the Cottonwood Mall in Holladay, just south of Salt Lake City - into a mixed-use development. That project, whose design has not yet been made public, joins mixed-use redevelopment projects that the company is pursuing in Columbia, Maryland, Natick, Massachusetts, Rock Springs, Wyoming, and elsewhere."
Thanks to Gayle Ross
FULL STORY: Big mall owner sees its future in town centers
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