Reinventing Retail: Shopping Malls Convert to Residential Towers

The Shift in Retail Landscape and the Emergence of Housing Opportunities

The retail landscape is transforming due to the decline of brick-and-mortar stores and the rise of e-commerce. This shift has driven many shopping malls and retail centers to explore innovative ways to repurpose their spaces, offering excellent housing opportunities.

Bergen Town Center: A Case Study in Mall Redevelopment

A prime example is the suggested redevelopment of Bergen Town Center in Paramus, New Jersey. Urban Edge Properties has proposed a plan to add residential towers to the shopping center, creating 456 apartments across two multifamily buildings.

Imagining the Future: Our Take on the Urban Edge Proposal

Our version of the Urban Edge proposal utilizes five existing parking lots. With a hypothetical Floor Area Ratio (FAR) of 8, we generated 2,000 units. The original parking was relocated to retail-lined garages beneath the towers, which would also serve as residential amenities.

Paramus Demographics: A City Poised for Transformation

Paramus, NJ, is a compact city comprising just six census tracts, all with a six-figure median income. The project is in the tract with the lowest population density growth over the past decade. Any multifamily development would significantly transform the demographic landscape.

Author Olivia Ramos
Founder and CEO of Deepblocks, holds master's degrees in Architecture from Columbia University and Real Estate Development from the University of Miami. Her achievements before Deepblocks include designing Big Data navigation software for the Department of Defense's DARPA Innovation House and graduating from Singularity University's Global Solutions and Accelerator programs.