The mall life
a new kind of mall presents project managers with a more complex stakeholder environment
Attention, shoppers: The traditional mall --enclosed and anchored by major department stores -- is receding into history. No new enclosed malls have been built in the U.S. since 2006, and as many as one-third of the 1,200 malls now standing are either shuttered or in danger of closing. Popping up in their place? "Lifestyle centers" that promise much more than just shopping -- and present project leaders with new types of challenges. These mixed-use spaces are characterized by an outdoor setting, specialty stores, high-end dining, and residential and entertainment options. The US$20 billion Hudson Yards project in New York, New York, USA, probably the largest of the new mall breed, will feature a seven-story shopping center, 4,000 residences, restaurants from Michelin-star chefs, office towers, a public school and 14 acres (6 hectares) of open public space. It's slated to open in 2018.