Four years later, after failing to make that work, owner The Krausz Companies is pitching a new plan that would keep existing anchor stores but demolish vacant Kohl’s and Sears stores and significantly shrink the size of the mall. The concept plan, proposed in April, also calls for building 155 town homes and 256 apartments north and east of the existing mall…
Melaniphy said he thinks there also will be more redevelopments that shrink the amount of space devoted to retail and mix it with residential or hotel development.
That’s already happened at the former Randhurst Shopping Center in Mount Prospect. It billed itself as the largest mall in the world when built in 1962 but struggled to keep up as more upscale shopping centers opened nearby. It relaunched as Randhurst Village in 2011, an open-air shopping center with shops, restaurants, a movie theater and hotel.
This sounds a lot like the retrofitting of suburbia suggested by Ellen Dunham-Jones. The key is to have a steady flow of people on the site – people who live there or who are staying at a hotel – rather than relying on people driving to the mall. If all goes well, it might be hard to tell decades from now that these sites were once large shopping malls. (At the same time: (1) these mixed-use developments might stick out in the suburban landscape and (2) the trickiest part of improving these malls might be linking the edges to the surrounding areas. Suburban developments often have fairly impermeable edges.)
A reminder: this does not mean that the traditional shopping mall is dead. There may just be a lot fewer and they will be concentrated in wealthier areas:
“The fancier malls are going to be healthy because there are always folks that want that aspirational lifestyle, but there’s still a lot of money to be made with people who might have more value-oriented customers as their focus,” Trombley said.
While food deserts were all the rage several years ago, we might talk of retail deserts in the future.