Let’s keep these dialogues going! So in Providence Rhode Island, there’s a mall called “Arcade Providence” that has converted some of it’s retail space into apartments! Bravo!! You can find out more as reported by Gabrielle Fonrouge, in this video, brought to you by CNBC on December 5th, 2024, “How Shopping Malls are being Transfored Into Apartments in the U.S.”

To summarize, losing a Mall means losing thousands of jobs; local business suffering, revenue loss and, it’s not a good look. There are “34 million square feet” of commercial vacancies, “68%” of Malls are vacant and we have a housing deficit of “4.5 million homes.” Now, developers are creating mixed use spaces that include offices, medical use and housing. Of these “conversions…53.6% are being used for residences and office space….” As of January 2022 at least 192 Malls plan to build housing components. This U.S. has 1,100 regional and super regional Malls.” The video also featured “FlatIron Crossing, in Broomfield Colorado,” whose apartments are adjacent to the Mall.

The obstacles to overcome in converting Malls to Apartments according to the segment are:

1. Zoning Laws: Malls are usually zoned for Commerical and Mixed, Not for Multi-family Residential.

2. Design: Not enough Windows needed for natural light.

3. Converting Commercial Spaces Into Apartments: Expensive, so acquiring a space for conversions has to drop by “50%” to make it feasable.

You might wonder as I have, how that stacks up to losses, of all kinds. Let’s keep the dialogue going.

“Always, forward”