Retail Developers are Increasingly Adding Homes to the Mix

April 8th, 2015

By: Steiner + Associates

“The proverbial corner of Main and Main, long a hub for high-visibility retail, is now in unprecedented demand for urban housing. Instead of duking it out for site control, however, developers from these once-warring factions are joining forces to share space, nudged by changing market demands and pressure from lenders, cities and environmentally conscious consumers. Worldwide, nearly all site plans for new retail development and redevelopment have residential space penciled in—atop, beside or nearby—ranging from the few hundred units pegged for the top of Australia’s Melbourne Central mall to the 6,000 homes that will be woven through the mammoth Macerich–Lennar Homes joint venture in San Francisco called Candlestick Point.”

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