Wednesday, April 23, 2008

Retail - Lifestyle Developments the rage

Retail Developers Embracing Sustainable and Enduring Design Principles
from National Commercial Real Estate News From CoStar Group

Retail Developers Embracing Sustainable and Enduring Design Principles
Omniplan Principal, Tip Housewright, Speaks on Retail Architecture and Planning Trends, Including Sustainable Design

Tipton Housewright, AIA, LEED AP is a principal of Omniplan

"Yes. Those are all important trends. De-malling is continuing for properties
that have served their economic life and need (Santa Monica Place is a good
example of this). Then, there are malls that are still fundamentally healthy,
but need to offer something new to their customers; so they take a vacant
department store and do a lifestyle wing or outdoor element that is
complimentary to the indoors (We're doing this at Park Meadows, The Oaks and Fox
Hills to a degree)" said Housewright. Housewright confirmed that core retail
developers are increasingly requesting that Omniplan help them create mixed-use

"And if they're not doing a full mixed-use project straight out of the
box, in several cases, they at least want to have a master plan that
accommodates mixed-use in the future. For example, the first phase is usually
retail, but then subsequent phases of office or hotel or residential uses are
worked into the plan to phase in as the market matures; which I think is a smart
and more forward-looking strategy. In the '70s and '80s mall developers weren't
thinking about density and mixed-use, and while those malls are very well
located and are great real estate, the physical design makes it difficult to add
other uses in. So, I think we're smarter and wiser now in terms of the
development of our cities and we want to make sure our designs will accommodate
that change and evolution over time."

The mixed-use trend will be with us long term.

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