Malls across America are threatened with decline due to a rapidly changing retail world, the shuttering of conventional anchor tenants, changing consumer shopping habits, and obsolete shopping center design.
Malls today can no longer be limited to shopping. Today’s consumers are attracted to venues which are more experiential including access to a variety of entertainment, health and wellness venues, and attractive public spaces for community gathering. This has resulted in a densification of malls with residential, office and other uses.
After a thorough analysis of your project, RRER will provide solutions for market re-positioning, tenant mix solution, physical design changes, and enhanced economic viability. Our approach will outline the strategy and timing of each step of the project from entitlement to construction. Our solutions vary from recommendations for minor cosmetic upgrades and tenant repositioning to extensive project redesign for densification including the addition of housing, office or other non-retail uses.
Our scope of work normally includes:
- Full analysis of existing mall sales volumes
- Identification of vulnerable areas of the mall
- Discussion of ownerships redevelopment goals and budget
- Creation of a redevelopment vision adhering to ownership’s goals and budget
- Outline of strategic steps for implementation of redevelopment vision
- Entitlement assessment
- Creation of a redevelopment team of experts, including architects, engineers, lawyers and planners to implement vision
- Communication with public agency (city or county)
- Setting schedule for implementation and management of process
- Coordination with redevelopment team of experts