Amazon might have killed the bricks and mortar mall (though maybe not) but owners of aging shopping malls have found the key to survival: condos. Specifically, building condo/office/retail towers on the vast stretches of parking lots that surround malls, according to a recent report from the CBC.
This idea has gained traction in Vancouver, which has more room to grow up than it does to grow out. A Co-op in Calgary also has an innovative plan to build a new grocery store, greenhouse and to multi-residential towers, office space and townhouses.
With the death of Sears and Target fleeing back to the U.S., we could be seeing towers go up on shopping mall parking lots across the country. To read the report, please visit here.