Will the Death of Malls Save the Suburbs?
By Clare Trapasso
October 6, 2016
Is there anything more distinctly American than spending an afternoon in a sprawling suburban mall? Ah, the memories. Fighting fellow consumers for the last marked-down summer blouse at J.C. Penney. Dodging hordes of loitering/cruising teens and tweens. Justifying the intake of a 1,080-calorie Cinnabon Caramel Pecanbon because you’ve been “walking for miles and miles.”
Just as the incursion of Levittown-style suburban developments helped define the U.S. in the years after World War II, so too did the invasion of the massive, enclosed mall in the ’70s, ’80s, and ’90s.
But now this somewhat beloved and utterly iconic American institution—forever immortalized by teen classics like “Fast Times at Ridgemont High,” “Mallrats,” and “Clueless”—is in danger of becoming an endangered species. The primary culprit: digital technology. Just as the internet relegated the compact disc, snail mail, travel agents, and daily newspapers (sniff) to the dustbin of history, it’s also having a devastating impact on brick-and-mortar retailers. More and more shoppers are deciding to skip the traffic, ditch the lines, take a pass on Black Friday mob scenes, and do it all online instead.
The sea change has already begun. Foot traffic in most of the nation’s largest malls is dropping. Mall mainstays like Aeropostale, Wet Seal, and Pacific Sunwear of California have filed for bankruptcy. And more and more enclosed shopping centers, once vibrant hubs of their communities, have gone entirely dark.
That leaves these towns and small cities in a pickle: What do they do with these empty, hulking 600,000- to 1.2 million-square-foot shrines to consumer culture? What will happen to the property values in towns once defined by their malls?
How is the decline of the mall going to affect American life itself?
Some municipalities are finding that these dead shopping meccas present a unique opportunity to reinvent—and reinvigorate—their sleepy suburban landscapes. The centers are being transformed into public parks, medical complexes, even hockey rinks. In some cases they’re even being rethought as walkable “urban developments in the suburbs” which include funky boutiques, innovative restaurants, fitness centers, entertainment, and, yes, housing.
http://www.realtor.com/news/trends/w...ve-the-suburbs