>>1799938Malls are terrible because they don’t want to make the investment, but on the other hand, they don’t have people going to them so they can’t afford to make the investment.
All the malls in my city completely redesigned themselves. They tore down all the old tiles and they expanded the malls and added more modern fixtures. They also built luxury condos right near them and they lobbied the municipal government to build train lines connecting directly to them. One mall even partnered with the federal government to build offices right on top. Another gutted out an entire section of the mall and dedicated a wall of stores to “local businesses” where people can sell artisianal shit and local farm good etc for a severely reduced rent. They’re busy as hell even during the day.
Its a chicken and egg scenario. It’s very hard to convince investors and RE companies to pay an extra 200 million revamping a mall whose only clientele is dependent on the sears. It’s a classic case of capitalism. Those who innovate, will succeed. Those who rely on people to come to their local sears
>>1799940, and are too scared to upgrade to the future, will be left behind.
