"South Florida's Shopping Malls Transforming into Residential Units: A New Real Estate Trend"

Miami's housing inventory remains low, prompting the conversion of desolate shopping malls like Sunset Place and Southland Mall into mixed-use developments with residential units, retail, and food and beverage offerings. The trend is driven by the high demand for housing and the need to repurpose obsolete retail spaces, with over 50% of mall redevelopment projects in the US including housing. However, the conversion process is complex and may require complete rebuilding. While this trend aims to create more living space and meet community needs, it may result in high-priced luxury rental units, with a focus on rental communities rather than affordable housing.