The Shift From Malls to Multifamily
Mall owners are proposing redeveloping their sites into mixed-use assets to create a more attractive pitch to prospective residents and future tenants. The future of the stand-alone mall is grim. The transition to the live-work-play model is the goal for many landlords attempting to redevelop their properties that are trying to stabilize their struggling assets. For example, The owners of the Connecticut Post Mall in Milford, Conn., are proposing up to 300 units of luxury multifamily housing for an 8-acre site on the property. We are looking forward to seeing how consumer behavior changes the real estate landscape.