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Originally Posted by wags_in_the_peg
I agree especially being riverfront, unfortunately it’s not realistic. 80% of those shops are extremely busy and service the neighborhood well.
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Quote:
Originally Posted by bomberjet
It'd be awesome. But as wags said, that place is quite busy with popular tenants.
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Busy shops being there aren’t really that big a factor, you see businesses doing well booted all the time to make way for bigger/better/new development. The potential loss of rent would be factored in and more than made up for when the replacement is 10x the square footage. Often tenants (esp. nationals like Shoppers, McDonalds) would come back because the location is that good - or would be worked into a phased plan. Tear down west of shoppers for phase 1, then shift for example. Sometimes there’s tenants like Boyd that really aren’t the best use for the site, especially when it comes to redevelopment.
Generally the hold back on something like this here would be a legacy owner, sometimes smaller, who isn’t interested in the fuss amd happy to collect their check. Big redevelopments happen most of the time as the result of the sale, so when the owner may decide time is right to sell - you bet most developers would be interested for the redevelopment potential.
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Originally Posted by WildCake
Agreed. While I can imagine a redevelopment could happen at the site, there are way more empty lots in the Goulet/Marion area that could be developed for cheaper. Those will likely have to go first before land demands make it more financially viable to demolish/significantly disrupt the busy businesses in that mall.
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Unfortunately most of the surface lots in Norwood are owned by the hospital or hospital adjacent organizations that probably have zero interest in giving up their free employee/visitor parking.