Russell Glen Company的动态

Repurposing malls represents a complex, yet increasingly necessary, response to the changing dynamics of consumer behavior, urban development, and economic revitalization. In this week's blog, we explore various facets of mall repurposing in greater detail, including zoning ordinances, neighborhood views, economic impacts, construction challenges, and potential new uses. Get the inside scoop here: https://lnkd.in/g6tfMx-D

Although it will be years before the vision for Cloverdale Mall really begins to take shape, the City’s approval of the first two towers is an important step towards transforming the mall into a space that will better serve Etobicoke residents, many of whom already look to the mall as a de facto community gathering space. I love that the masterplan for Cloverdale Mall has evolved from a “retail main street strategy” to an “urban village strategy” that will centre around two large public parks. Add Valhalla Village just to the north, coupled with Cypress and Kip District Condos and the Six-Points Interchange Redevelopment to the east along Dundas St.W., central Etobicoke will be transformed entirely. https://lnkd.in/gCqCHMGy #mixedusedevelopment #transitorienteddevelopment #residentialdevelopment #highrisebuildings #apartments #affordablehousing #retail #amenities #rentalunits #etobicoke #toronto #development

?? Exciting Times in Real Estate! ?? We’re thrilled to see that Forbes is highlighting a growing trend in real estate development – the transformation of distressed commercial properties, including malls, into vibrant multi-family communities. This innovative approach not only revitalizes underutilized spaces but also addresses the increasing demand for urban living options. Read the Forbes article to learn more about this trend and how it’s shaping the future of real estate. We’re excited to be part of this evolution and look forward to contributing to more successful transformations! https://lnkd.in/gXPJyV7p #RealEstate #PropertyDevelopment #UrbanLiving #CommunityBuilding #UrbanaSystems

?????? ???? ?????????? ?? “???????????? ????????” From apartment buildings rising in shopping centre parking lots to the redevelopment of dead-mall sites as housing, retail-to-residential conversions are an increasing trend that is seeing partial or complete “scrapes” make way for mixed-use ‘Life-Style Living’ communities. As online shopping becomes the norm, there has been a movement to transform shopping malls into residential communities. This trend is not just about building homes; it's about creating integrated neighborhoods where people can live, work, play, shop, and learn. In Welland, for example, Elevate Living's Warbler Place is a prime illustration. This project is converting a space near Seaway Mall, previously occupied by Target, into an urban village. The plan includes 1,300 dwelling units, with 700 in four high-rise buildings, some directly connected to the shopping center. This approach to higher-density living extends the property's activity to nearly 18 hours a day, fostering a vibrant community hub. In downtown Toronto, 'The Well' by Allied and Riocan is a highly anticipated project set to complete this year. Located on eight acres at Front Street and Spadina Avenue, it features six residential towers, an office building, and a multi-level mall. This development epitomizes the concept of modern urban living. The Greater Toronto Area is witnessing a surge in such projects, with 14 developments planned to create or enhance shopping center sites. In Brampton, Mississauga, and Toronto, approximately 200 residential buildings are proposed on the sites of older malls. This shift reflects a broader trend of population and employment migration, as municipalities strive to avoid the blight of 'zombie malls' and instead foster lively, integrated communities. Do you see an opportunity here? If you’re afraid of taking those first steps alone, learn how we can help you reach your financial goals through Passive Investing in real estate with us. At Paramount we’re not only a Real Estate Brokerage, we are solution providers. Take us up on a free 15 minute consultation. #paramountrealestategta #commercialrealestate #commercialopportunities

??? From Mall to Masterpiece: The Transformation of Collin Creek Mall ??? What used to be Plano's iconic Collin Creek Mall is now turning into a stunning new community! A row of sleek blue townhomes has sprung up as part of Centurion American’s $1 billion redevelopment project. Homes are officially for sale with move-in ready units available this month! This master-planned community is bringing 500 single-family homes, 2,300 multi-family units, and 300K sq. ft. of retail and restaurant space to the area, marking a major milestone for Plano’s growth. While we don’t recommend investing in Plano due to higher price points, it’s projects like these that show the power of what investing anywhere in the DFW metroplex can become. ??? LEARN MORE ABOUT THE MARKETS WE RECOMMEND: https://lnkd.in/gXg4_-NV READ MORE: https://lnkd.in/gu92AdJx #DFWRealEstate #PlanoTX #CollinCreek #MetroplexInvesting #SlaughterInvesting

Redevelopment is not easy having to deal with cities, tenants, and capital markets. I do expect the mall redevelopment trend to continue as most are on large land parcels in urban settings. #redevlopment #landforsale #infill #malls

"Adaptive Reuse" in helping satisfy our Housing needs doesn't just mean the building that exists but realllllllllllllly means the SITE that the Building exists on! LOVE this piece! AND Strategy! Have seen it work MANY a time! "State and local jurisdictions are desperately looking for new ways to speed up affordable housing development as the supply of homes falls short of demand nearly everywhere in the U.S. This fall, the Biden-Harris administration announced new resources to support commercial conversions to create affordable housing." #ThielTeam #MadisonRealEstate #WisconsinRealEstate #RealBrokerLLC #DevelopmentConsulting #Development #RealEstate #Innovation #Housing #HousingCrisis #AppropriateDevelopment #Design #Sustainability https://lnkd.in/g2FX5Q-G

??? Atlanta Commercial Real Estate Highlights ?? Adaptive Reuse Projects: -Upper West Market: A former 97K SF warehouse on Collier Road will be transformed into a vibrant indoor farmer’s market, featuring local food stalls, retail spaces, and offices. Tenants include Chef Anne Quatrano’s Summerland Cafe, HopCity Wine Bar, and Honeysuckle Gelato. Expected opening: Summer 2025. ?? New Developments: -40 Marietta St. Conversion: Columbia Ventures is turning a 17-story office tower into a 152-unit affordable senior living facility with rents ranging from $698 to $2,000. Invest Atlanta approved a $32.5M tax-exempt loan for the project. -Veranda at Assembly: The Integral Group delivered this 100-unit affordable senior living complex in Doraville, catering to residents 55 and older. -Georgia-Pacific Center: Plans to convert their 51-story headquarters into a mixed-use tower with 400 apartment units, 125K SF of retail space, and a 35K SF central plaza. -Underground Atlanta: Lalani Ventures and Exact Capital are developing a 405-unit mixed-use apartment tower featuring student, income-restricted, and market-rate housing along with retail and art incubator spaces. ??? Major Transactions: -Gwinnett Place Mall: Gwinnett County purchased Macy’s department store for $16.5M as part of the mall's redevelopment into a mixed-use Global Village with 3,800 residential units and extensive commercial space. -Met Atlanta Purchase: Atrium Health bought nearly 40 acres near the West End MARTA station for $70M, further expanding their footprint in the area. ?? Lease Renewals: -T-Mobile at One Ravinia Drive: Renewed its 100K SF office lease in the Central Perimeter’s 800K SF tower, represented by CBRE and Cushman & Wakefield. -Thrive Coworking: Leased nearly 19K SF at 3176 Main St. in Downtown Duluth, marking its eighth Georgia location. ?? Financing Initiatives: -Rapid Rehousing Program: Invest Atlanta approved $75M in bonds to construct 500 quick-delivery housing units for Atlanta residents experiencing homelessness, supported by the city’s Affordable Housing Trust Fund and additional $10M. #AtlantaRealEstate #CRE #CommunityGrowth #AdaptiveReuse #Development #InvestmentOpportunities https://lnkd.in/g2gJr77J

Vallco Mall Redevelopment: Homes Take Center Stage! Exciting news for Cupertino! The City has approved a revised plan for the redevelopment of the former Vallco Mall site, now known as "The Rise." This project aims to revitalize the area with a focus on housing, while still incorporating commercial space. Here's a breakdown of the revised plan: More homes: The project will now include 2,669 homes, compared to the previously planned 2,402. Focus on affordability: 890 of these homes will be designated for low-income households, significantly increasing Cupertino's affordable housing stock. Balanced development: Alongside the residential units, the plan includes 1.95 million square feet of office space and 226,400 square feet of retail and restaurant space. This revised plan reflects a shift in priorities, addressing the need for more housing options in the Bay Area and to include low income homes, while still incorporating commercial elements to create a vibrant mixed-use community. Stay tuned for further updates on the development of The Rise! #cupertino?#VallcoMall?#TheRise?#Redevelopment?#Housing?#affordablehousing?#siliconvalleyrealestate?#bayarealifestyle ?#SiliconValleyHousing?#CommunityDevelopment?#MixedUse?

The developer behind a proposal to build three residential towers along?Vancouver’s Broadway corridor near Commercial Drive have submitted yet another version of their plans with even higher towers – but this time composed entirely of rental units rather than condos, reported The Globe and Mail. "The proposed site, on what is now a Safeway grocery store that would also be redeveloped, is important because it is next to the Commercial-Broadway SkyTrain station, which connects two of Vancouver’s rapid-transit lines. It’s also in the heart of the Commercial Drive neighbourhood on the city’s east side and has the potential to transform it. The question is how it will transform the area." "The proposal at 1780 E. Broadway from developer Westbank Corp and landowner Crombie REIT now includes three towers at 35, 36 and 39 storeys above a retail podium level. A little more a year ago, in 2022, they were at 31, 34 and 38 storeys, which was already several storeys higher than what was proposed in 2019. There have been several updates to the plan." "The increase is to accommodate 981 secured purpose-built?rental?units, says architect Peter Busby. The new focus on rentals is a response to policies that have come along in recent years designed to incentivize greater density around transit hubs." https://lnkd.in/g75EWgAu #vancouver #development #transitorienteddevelopment