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Why don't developers turn the hundreds of dead malls into living communities, build out 1000 apt units, and then have shops and restaurants inside to cater to residents?
Many new shopping centers are being built with shops, restaurants, taverns, movie theaters, medical offices, etc. on the ground floors with business offices and condos on the upper floors.
People pay a premium for the condos, but they can live, work, shop, go out to dinner, .. without getting into a car.
Why don't developers turn the hundreds of dead malls into living communities, build out 1000 apt units, and then have shops and restaurants inside to cater to residents?
Not sure about your country, but in the USA this is happening. When practical, developers will use existing vacant malls as the foundation for redevelopment.
What holds back some is the design and construction doesn't always allow for living space within the mall interior that meets building codes for fire and safety, so they often look to build the living areas above the existing malls. Additionally, projects still have to be financially viable; ideas are great but it cost money to implement. Unfortunately, the side effect is these projects are hyped and cost to live there can be above the average person's ability.
Why don't developers turn the hundreds of dead malls into living communities, build out 1000 apt units, and then have shops and restaurants inside to cater to residents?
I think about this every time I watch a Dead Malls episode on YT. It is sorta (not exactly) happening here, one of our malls is fading (not dead by any means) and at least one of the flagships is closing. They’re converting it into apartments, since the location is so fantastic with public transit and retail right there. Not a living community like you’re talking about, but they are repurposing the space for dwellings.
I wonder if some of the problem is that a lot of these malls are dead because the areas are quiet or depressed, meaning there wouldn’t be much call for new development?
Why don't developers turn the hundreds of dead malls into living communities, build out 1000 apt units, and then have shops and restaurants inside to cater to residents?
Malls are in decline and it costs money to build 1000 new apartments! The cross mix of mall restaurants and new apartments won't work either. Would you want to live near a Sbarro or Panda Express?
Many new shopping centers are being built with shops, restaurants, taverns, movie theaters, medical offices, etc. on the ground floors with business offices and condos on the upper floors.
People pay a premium for the condos, but they can live, work, shop, go out to dinner, .. without getting into a car.
Walkable urban.
Except the parking is usually still an issue. If you live there and you park your car (walking most places) then they lose a parking space to your mothballed car. Movie theaters tie up parking for hours, med/business offices need parking daily or their businesses will suffer.
I visited a downtown office plaza last week to meet with an attorney. Parking SUCKED and I inadvertently parked in the neighboring building (I though the skyscrapers were attached). I was meeting at lunchtime yet there were no available spots until the 11th floor of the garage!
Why don't developers turn the hundreds of dead malls into living communities, build out 1000 apt units, and then have shops and restaurants inside to cater to residents?
Where are there hundreds of dead malls? You mean strip malls? I've never seen large malls closed down that are not strip malls. Plus these areas are for business. If the town makes it residential that means there won't be places for new businesses to open there.
There is one that turned into mini studio apartments and that's a great idea.
When I traveled in the past up north on 1-95 I did see many motels closed. If those were turned into condos that would be a great affordable solution. They already have bathrooms, so you just need a kitchenette and you have a solution that beats tiny homes.
Where are there hundreds of dead malls? You mean strip malls? I've never seen large malls closed down that are not strip malls. Plus these areas are for business. If the town makes it residential that means there won't be places for new businesses to open there.
I'm talking the big malls. I was in NJ last month, one in Wayne was dead. Paramus Park all but dead.
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