As shopping mall tenants struggle to compete with their internet-based counterparts, developers are looking to transform these properties into something that will attract visitors, and, like the Orlando Fashion Square mall, also lure residents and office tenants.
Earlier this year, Centurion American Development Group announced that it was looking to turn the Collin Creek Mall in Plano, Texas, into a $1 billion mixed-use development. The master plan includes 500 townhouses and single-family homes, approximately 3,000 apartments, office space, 450,000 square feet of retail and restaurants and a central 9-acre park. Like Whittall, Centurion will demolish existing mall property and build new elements from the ground up, but it will also retain and renovate part of the existing complex.
