Originally Posted by nthach
Originally Posted by PimTac
Malls are changing into lifestyle centers. A mix of retail, condo and apartments plus the addition of healthcare and fitness facilities.
There is an example of one that mixes mid to high-end retail, high-end condos and a free shuttle to the local BART station(well, subsidized by a tax the retailers imposed on themselves) near where I live.
A group of Chinese investors bought out a dead mall near my parents and it will be redeveloped into new retail - a Walmart and 99 Ranch Market(the Asian Safeway/Vons) will anchor the center and there will be housing.
Having spent considerable time in Asia, I've seen how malls can really flourish with that concept. They are not just for retail. I have been in large malls complete with hotels and condos. Along with a mix of retail and eating outlets they also have medical and dental facilities. And fitness centers. Play areas for kids and young adults. Movie theaters, and other services like travel. Tie it in either close to or directly with a train or subway really makes them convenient.
The malls have to adapt from the current strategy. Depending on the mall, the existing Sears store may or may not be a feasible option for revamping.
Malls may have to be centrally planned better. Having dozens of clothing stores that all look similar except for the name on the door is not a good idea. Having such stores located close to each other creates a dead zone in a mall.