Why Residential

Why Residential 2018-08-02T16:27:16+00:00

The future of retail is mixed-use.

Gone are the days of malls as we know them, and forward-thinking retailers trying to thrive in the online shopping era are seeking residential neighborhoods as part of major retail developments to help ensure the long-term viability of the project.

Malls are no longer retail only assets, they need diversification of use to survive and thrive. The more entertainment, restaurants, and community areas, the better. With 40 percent of top malls adding residential space and 33 percent building hotels, the “live, work, play” strategy is a must for future retail success. Mixed-use supports a repositioning of an old mall and helps ensure a vibrant new community venue for the future.

Massachusetts residents need only look at Legacy Place in Dedham, University Station in Westwood, MarketStreet in Lynnfield, and the South Share Plaza in Braintree to see what it takes to succeed in today’s climate. Hanover Crossing must gain the residential component as well as the retail revitalization to attract high-caliber tenants to compete with these centers.

On the residential side, units like the 297 proposed for Hanover Crossing also represent a chance for Millennials looking for their first place to live on their own, as well as empty-nesters hoping to downsize from a single-family home but still stay in the community they love. By combining residences with a retail center that has restaurants and other amenities, it’s a win-win for everyone.

Hanover mall owners look for housing variance

December 12th, 2018|

By Adam Silva adsilva@wickedlocal.com  Posted Nov 23, 2018 at 3:22 PM HANOVER — A plan for 297 residential units on the current Hanover Mall property will go before the zoning board of appeals Wednesday, Nov. 28. PREP, owner of the

Hanover Mall owners insist on need for 297 apartments

December 12th, 2018|

By Adam Silva adsilva@wickedlocal.com Posted Nov 28, 2018 at 11:59 PM Updated Nov 29, 2018 at 8:28 AM HANOVER — Owners of the Hanover Mall told the local zoning board on Wednesday that a 297-unit apartment complex is crucial to their plans to redevelop the

Young couples and retirees ditch the city for a new kind of suburb

July 6th, 2018|

Melody Hahm Senior Writer The term “surban” describes a suburban community that offers the conveniences of urban life. John Burns Real Estate Consulting trademarked the word in 2016. Urban planners have long described a marriage