Shopping Center Business

MAY 2016

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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PARKING 188 • SHOPPING CENTER BUSINESS • May 2016 attractive and monotonous. People will walk farther if the route is interesting, and that is difficult to accomplish with parking lots. You can plant trees, but it's still a parking lot. Cities like San Francisco understand this. In most cities, parking is regulated us- ing minimum numbers of required spaces. In San Francisco, it's the opposite. Park- ing there is governed through maximums — they would love you to provide no parking at all. That strategy is not always realistic, but the policy has contributed to San Francisco being one of the most desirable places to live in the United States. When land is not devoted to cars, densities are increased, walk- ability improves and real estate prices go up, leading to more development. There are enlight- ened cities and de- velopers out there that have worked on this problem and un- derstand that success doesn't necessarily mean putting the au- tomobile at the top of the priority list. Sure, for the foresee- able future it will be a factor, but ranking placemaking ahead of logistics is key in the fight to develop livable, desirable environments. FILL IN THE PARKING LOT Building on parking lots is not a new idea. For the last couple of decades, devel- opers have been slowly filling the missing teeth in the mouths of downtowns across the country. Typically small in-fill projects have helped to bring life to those dead and dying urban cores. Scores of residents have moved downtown, and with them, restaurants and shopping opportunities have multiplied. Neighborhoods that were formerly buttoned up at five have become 18 hour-a-day live, work and play environments. This leaves sites that are not in an urban core floundering. There is abundant re- tail, but not abundant great retail. Shifting demographics, shifting development pat- terns and the boom of online shopping has shopping center owners scrambling to reinvent, reimagine and overhaul their tired centers in the hopes of creating a place worth going to. No longer simply space leasers, shopping center owners need to be entertainers. The competition for American's discretionary time is at an all-time high, and capturing a small piece of it for shopping is challenging. (Article continues on p. 190) The design concept for AMLI Uptown Orange maximizes the use of land by building new multifamily residential on existing parking and sharing the new parking with the existing Doubletree Hotel. Visit us at ICSC RECon 2016 • Booth S4610 P Street To schedule a meeting at RECon, email RealEstate@SportClips.com www.SportClips.com Expanding in all 50 states and Canada Requirements: • Typical Store is 1,000-1,400 sf with 15-20 ft. average frontage. • Minimum population 30,000 in a 3 mile radius. • Targeting medium to higher income households. • In-line with major anchors, out-parcels or strong retail strip centers – all work for us. • National co-tenants preferred. • Good visibility with access and ample parking. NOW WITH OVER 1,500 LOCATIONS! Rendering courtesy of KTGY Architecture + Planning.

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