Replacing a shopping mall with a village
What to do with 104 acres/23 blocks of failed (the trend nowadays) regional shopping mall? Well, after you get over how much land these malls really do eat up, you can find a visionary investment team like Continuum Partners to turn it into an urban village, as the image shows.
Yes, the homes in the new mixed-use development of Belmar in Lakewood, Colorado are priced too high for the average person and the stores are mostly chains – not a primary destination for the creative class – but the entertainment and recreation amenities are plentiful and attainable, and as far as a lesson in improving what used to be there…
Out with the old:
– 1.4 million s.f. of shopping mall
In with the new:
– 1300 residences
– 0.9 million s.f. of office space
– 175 stores
– 16-screen theater
– 9 acres of parks and plazas
– 90,000 events center
That’s a pretty good deal.
This idea is also taking place in Columbia, SC. Our once upscale Richland Fashion Mall is now Midtown at Forest Acres. The mall is basically being turned inside out, like the old “malls” that were popular long ago.