If malls continue to shut down and decay over the next twenty years, someone should turn them into retirement communities for GenX and Millennials.
If malls continue to shut down and decay over the next twenty years, someone should turn them into retirement communities for GenX and Millennials.
Imagine apartments built into what used to be department stores, (Oh, you're JC Penny 203? I'm at Sears 106). Get those old arcades up and running. Set up meal stations at the food court. Once people actually live there, stores will start to move back in.
If I'm unable to finish my life in my own home, that doesn't sound like a terrible option.
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They tore down the big, stagnating mall a few minutes from my place years ago. It's still a big, empty lot.
This would have been a much better and surely most cost-effective solution. Instead, we're probably eventually gonna get another soulless office park in spite of dwindling demand.
I didn't know this, on account of like not knowing a lot of land owners. But I did know one (for sure), and they had some property that unfortunately burnt down. It was more economically sound for them to keep the place an empty lot with a guard and a gate than to build something back up. I think that's naners. But also the whole situation was some kind of nanas.
I heard the same thing for landlords in the past. That having the property in any state is better than having to reinvest that cash into upkeep. So you don't particularly care about the renter's life quality, as much as you care that they keep floating money up to you and not complaining as things fall apart around them. And keeping people in crisis mode is a great way to counter any sort of counter-measures they can bring down on you. But also keeping public support organizations under-budget and overwhelmed is a solid way of sending the message "you're on your own."
I know it's kinda like a learned helplessness thing - but when everything around you is shit, and you're trying your best and just keep sinking - it's tough to fight assholes. But this is all er...my thoughts on the matter. I don't know anything definitively. Just figured they're banking that property until it's time to sell. And anything that goes into it - is money that cuts overall profits.