"As online shopping continues to challenge traditional malls, a new trend is emerging: repurposing malls into mixed-use communities with housing solutions. Developers are transforming abandoned retail spaces into vibrant residential areas. This shift is especially evident in states like New Jersey and Florida, where housing demands are high. While the transition from retail to residential offers a quick housing market solution, challenges like redevelopment costs and labor shortages exist."
"However, collaborative efforts between developers and municipalities can lead to successful projects like the HiFi development near Colorado's FlatIron Crossing mall. The HiFi development near Colorado's FlatIron Crossing mall exemplifies a successful mixed-use project that addresses housing needs and revitalizes the area. The partnership between developers and cities, as seen in the HiFi project, can result in innovative solutions like including affordable housing components in residential developments."
Online shopping has reduced demand for traditional malls, prompting conversion of abandoned retail into mixed-use communities with housing. Developers are transforming mall properties into vibrant residential areas to meet local housing demands, particularly in states with shortages such as New Jersey and Florida. Converting retail to residential can provide a relatively quick housing-market response but requires substantial redevelopment investment and faces labor shortages. Municipalities and developers can collaborate to navigate zoning, financing, and infrastructure challenges. Successful collaborations can incorporate affordable housing components and revitalize surrounding areas. The HiFi development near Colorado's FlatIron Crossing mall demonstrates a mixed-use redevelopment that addresses housing needs and revitalizes an underused retail site.
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