What’s the best-selling item at the shopping mall these days?
Hint: it’s not in the stores — it’s in the parking lot.
In fact, it IS the parking lot.
Mixed-Use New Construction
No less than 3 Twin Cities shopping malls at the moment — Ridgedale, Knollwood, and Southdale — have major construction projects going up in what used to be parking space.
The developments range from residential housing (condos, in the southeast corner of Southdale) to more retail space (Ridgedale).
However, in each case, they represent a more intensive (and lucrative) use of high-demand, well-located space.
P.S.: The new developments cannibalize street-level parking, but often (more than) offset that with new parking ramps.
