The COVID-19 pandemic has dealt a serious blow to many shopping malls, as customers turn to online retailers.
Owners may look to redevelopment if these retail centers fail. Converting malls to fulfillment centers, apartment complexes, schools or medical offices may give the properties new life—but at a cost.
One analyst says that such strategies could reduce property values anywhere from 60% to 90%. A mixed-use development may offer better recovery values.
A mixed-use development takes extensive planning and capital, though. Ten years is a common length of time from inception to completion.
Related Stories
Adaptive Reuse | Jan 4, 2018
Student housing development on Chapman University campus includes adaptive reuse of 1918 packing house
The Packing House was originally built for the Santiago Orange Growers Association.
Adaptive Reuse | Dec 11, 2017
Detroit's economic improvement a boon to its hotel sector
Detroit Foundation, a stylish boutique hotel, is the Motor City’s newest hospitality venue.
Adaptive Reuse | Nov 29, 2017
‘Eat-ertainment’ establishment grants abandoned air traffic control building a second life
The concept’s design reflects the golden age of flight.
Adaptive Reuse | Nov 10, 2017
Austin’s first indoor shopping mall becomes Austin Community College’s new digital media center
Renovation of the defunct mall represents Phase 2 of ACC’s $100 million adaptive reuse project.
Adaptive Reuse | Oct 23, 2017
A tableware storage space is reset to accommodate an investment firm’s headquarters in Raleigh, N.C.
This adaptive reuse establishes more direct visual and physical connections to a growing city.
Adaptive Reuse | Oct 5, 2017
Wexford’s latest innovation center breaks ground in Providence
The campus is expected to include an Aloft hotel.
Office Buildings | Jun 13, 2017
WeWork takes on a construction management app provider
Fieldlens helps turn jobsites into social networks.
Office Buildings | Mar 27, 2017
New York warehouse to become an office mixing industrial and modern aesthetics
The building is located in West Chelsea between the High Line and West Street.
Adaptive Reuse | Nov 9, 2016
Middle school transformed into affordable housing for seniors
The project received $3.8 million in public financing in exchange for constructing units for residents earning less than 60 percent of the area’s median income.
Adaptive Reuse | Nov 7, 2016
From fuel to food: adaptive reuse converts a closed gas station in Princeton, N.J., to a Nomad pizza
The original building dates back to the Modernist 1930s.
