Key insights

• ⭐ The Arcade Mall in Providence, Rhode Island has been repurposed into micro lofts to address the housing deficit.
• 🏬 Malls across the U.S. are facing store closures and high vacancy rates.
• 🏢 Developers transformed the long-vacant Arcade Mall into 48 micro lofts to provide housing solutions.
• 🏠 There is a significant housing deficit in the U.S., with almost 4.5 million homes needed.
• 📉 Malls across the country are struggling, with nearly 34 million square feet of mall space vacant and off the market.
• 👩‍🦰 Amy Henion lives in a mall in Providence, Rhode Island and enjoys the experience.
• 🛍️ Residents enjoy the convenience of shops and restaurants in the building, access to amenities, and avoiding bad weather.
• 🅿️ Developers often convert underutilized parking lots and buildings in malls into mixed-use projects, facing challenges with zoning laws and design due to limited windows.

Q&A

• Why are malls being repurposed into housing and office spaces?

  Malls are being repurposed into housing and office spaces due to the decline in retail. Converting office space into apartments is expensive and requires a 50% drop in prices to be financially feasible. Despite these challenges, malls have the potential to become the housing hubs of the future, promoting community interaction.

• What are the challenges faced by developers when repurposing malls into mixed-use spaces?

  Developers often convert underutilized parking lots and buildings in malls into mixed-use projects, facing challenges with zoning laws, and design due to limited windows. These challenges impact the conversion of dead retail spaces into vibrant mixed-use spaces.

• Why don't the micro lofts in the Arcade Mall have stoves or ranges?

  The units in the mall don't have stoves or ranges due to building codes, but despite some challenges, residents like Amy Henion enjoy living in the mall in Providence, Rhode Island.

• What is the living experience like for residents in the repurposed Arcade Mall?

  Residents enjoy the convenience of having shops and restaurants in the building, access to amenities, and avoiding bad weather. Furthermore, the businesses downstairs benefit from the built-in customer base of the residents.

• How are malls across the U.S. faring in the current climate?

  Malls across the country are struggling, with nearly 34 million square feet of mall space vacant and off the market. This decline in malls has a significant impact, leading to economic repercussions and the transformation of retail spaces.

• What prompted the transformation of the Arcade Mall into micro lofts?

  Malls across the U.S. are facing store closures and high vacancy rates. Developers transformed the long-vacant Arcade Mall into 48 micro lofts to provide housing solutions to combat the significant housing deficit in the U.S., with almost 4.5 million homes needed.

• What is the Arcade Mall in Providence, Rhode Island known for?

  The Arcade Mall in Providence, Rhode Island has been repurposed into micro lofts to address the housing deficit. This transformation aims to provide housing solutions amidst a nationwide mall crisis.

• 00:01 The Arcade Mall in Providence, Rhode Island has transformed into micro lofts to address housing deficit amidst a nationwide mall crisis.
• 01:26 Living in a mall is becoming a trend with some malls adding housing components. Amy Henion has been living in a mall in Providence, Rhode Island for the past two and a half years and loves it despite some challenges. The mall doesn't have stoves or ranges due to building codes.
• 03:03 Residents in The Arcade enjoy the convenience of having shops and restaurants in the building, access to amenities, and avoiding bad weather. The businesses downstairs benefit from the built-in customer base of the residents.
• 04:19 The decline of malls has a significant impact on communities, leading to economic repercussions and the transformation of retail spaces.
• 05:55 Developers often convert underutilized parking lots and buildings in malls into mixed-use projects, facing challenges with zoning laws, and design due to limited windows.
• 07:32 Malls are being repurposed into housing and office spaces due to the decline in retail. Converting office space into apartments is expensive and requires a 50% drop in prices to be feasible. Despite challenges, malls have the potential to become the housing hubs of the future, promoting community interaction.