"Reviving Dead Malls to Alleviate America's Housing Shortage"
Originally Published 1 year ago — by Fortune
With America facing a severe housing shortage, attention is turning to repurposing underperforming retail spaces, such as strip malls and shopping centers, into residential buildings. Converting just 10% of these sites could create 700,000 new housing units nationwide, offering a potential solution to the housing crisis. Unlike office-to-apartment projects, which have proven costly and rare, retail conversions present a more promising and feasible option due to the abundance of retail space, existing infrastructure, and potential for mixed-use developments. While challenges such as lighting and utility work exist, the trend of turning dead malls into apartments is gaining traction as a viable solution to the housing shortage.