Introduction - Two Problems - One Complicated but Doable Solution
Two serious problems we are facing could be combined into one solution.
- The population of seniors (over 70) is growing. They will or do need help to care for themselves. They do not want to be stuffed into overcrowded and underfunded seniors homes that just got locked down due to the coronavirus pandemic.
- Neighborhood shopping malls are losing their appeal as more people shop online and find other ways to occupy themselves.
So picture this:
The local galleria shopping mall is renovated and repurposed into a seniors village.
The lower floor consists of shops and businesses that would normally be found in a small village such as food shops, clothing shops, hardware stores, medical clinics, law offices, restaurants etc.
The upper levels are turned into apartments for seniors where they can live out their lives independently and shop in the village below for their basic needs.
With a galleria type atrium layout, the seniors could leave their front door and look down to a bustling village of shops and shoppers. The shopkeepers would be confident that they have a loyal base of customers.
An onsite medical clinic could care for the seniors in their own apartments as need be up to and including final days (hospice). All levels of care would be available.
Yes this is a nice dream but is it practical?
The purpose of this blog is to investigate and discuss the idea to determine the answer to this question. We hope to engage family, friends and interested parties into this discussion so if you have something to say please do. Brenda and I will be brainstorming along with you and I will make an effort to keep this blog up to date with your ideas and comments.
The ultimate goal would be to turn this over to a development company or NGO of some sort to build and operate it. I don't think its practical to include the government as it stands and it would be better to run it as a non profit or even for profit venture. Lots of questions and hopefully some answers.
Can this be done? Please comment below with your positive input and advice.
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ReplyDeleteThe idea is sound, and should work. But, first, an observations. Are we sure seniors want the noise and tumult that goes with a mall. And if the mall is exclusively for seniors, are there enough to sustain very many. Remember, this group is most often trying to reduce expenses, which means eating at home, not in restaurants. Not an issue if the many eating facilities are simply providing meals in an all-included living arrangement.
ReplyDeleteBut, once again, if we want a real variety of shops, it has to be open to the general public. Some present businesses may opt to remain, a prospect that would be enhanced with some tax exemption, perhaps no sales taxes, perhaps subsidized rents. Maybe, the whole place could be given a sort of Indian Casino status?
I suppose what I’m saying is the viability of the project depends on finances. Tax-free bonds could, of course, be issued, possibly with expectant residents given first pick at a discount. I see a time frame of ten years to pull off a project like this. Many many imponderables.
Gene Walsh
Thanks Gene,
DeleteI agree, having the shops open to the public may be the best route giving them a variety of customers. That also provides a mix of people for the residents to interact with.
I hesitate to involve the government though (tax exemptions etc.) because of red tape however that alternative should be explored.
Imponderables indeed (nice word). Where do we start?
Bob
This just in from Gene:
ReplyDeleteTwo major mall owners file for bankruptcy
Two owners of a combined 130 or so malls across the US have filed for bankruptcy, signaling that the pandemic and shifting consumer habits continue to rattle the retail industry.
Read in CNN Business: https://apple.news/AwQwk4bKrSoCcdB5N99zrPA
And I'm sure this is the tip of an iceberg. Maybe we need to talk about other uses for these structures. Assuming we would want to keep some sort of retail presence ... what other services or businesses would work for the many unused spaces inside these buildings?
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ReplyDeleteOne question i have is how is large dying commercial real estate like that sold?
ReplyDeleteLike when a mall stops being viable do they terminate all the current leases and try and sell it as a single thing or do they just hold on with low occupancy as long as the can. In vancouver i see them die slowly.... with lower and lower occupancy but remaining open. Would that make this idea easier because with a willing current mall owner you can maybe convince them to offer the unused units to people 50+ that want to start a small senior focused business in an empty unit in the mall. Maybe offering a living space above as part of the package. Like slowly take over the mall with retail seniors want and then maybe selling the living part after when the amenities part is there and seniors are use to visiting it.