Email Office

Recent News


Week of Oct. 8th-Dying shopping malls can make room for new condos and apartments, helping ease the housing crisis

October 8, 2017

Real estate experts say, the demise of retail centers provides one of the best chances to add needed housing in California’s urban regions, where a shortage has left nearly 30% of renters in the state paying more than half their income on housing.

“It’s a huge opportunity — probably one of the biggest,” said Adam Artunian, a vice president with John Burns Real Estate Consulting in Irvine.

The redevelopments are likely to face hurdles from residents concerned over the changing character of their neighborhoods, but as Americans increasingly buy T-shirts, purses and electronics online experts say something needs to be done with all the massive retail centers that popped up during the postwar era before they become neighborhood blights.

A recent report from Credit Suisse predicted the trend will result in 20% to 25% of America’s malls closing in the next five years.  Learn more.




Return to Recent News Main Page