By  on May 20, 2019

As the construction dust begins to settle, the efficacy of new shopping centers can be judged. Projects such as the Shops and Restaurants at Hudson Yards, which touts experiential tenants, star chef-driven restaurants, and Manhattan’s first Neiman Marcus, and American Dream’s retail, dining options and entertainment on steroids, nearing completion in the New Jersey Meadowlands, will be put under the microscope and their most successful elements duplicated. But there’s no fail-safe formula for fixing ailing malls and reinvigorating tired centers.

The retail upheaval sparked by the confluence of the 2007 Great Recession, the rise of e-commerce and Millennials’ shifting priorities, resulted in bankruptcies and thousands of store closures, and continues to wreak havoc on the shopping center industry.

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