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Lifestyle Centers

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Peter Zahka …

Peter Zahka
Karen O'Connell
Richard J. McCarthy Jr.

Published in: Business, Real Estate
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  • Lifestyle Centers Evolution
  • Route 1
  • Photo Images
  • Transcript

    • 1. Massachusetts Association of PlanningDirectorsAnnual Conference June 9,2011Presenter: Peter Zahka Attorney for Legacy PlacePresenter: Karen O’Connell, Economic Development Director &AttorneyModerator: Richard J. McCarthy, Jr., Planning Director
    • 2. A lifestyle center is a shopping center or mixed-usedcommercial development that combines the traditional retailfunctions of a shopping mall but with leisure amenitiesoriented towards upscale consumers*.Definition Lifestyle Center*Definition from Wikipedia
    • 3. Lifestyle centers, which were first labeled as such by Memphis developers Poag and McEwen in the late 1980s[1] and emerged as aretailing trend in the late 1990s, are sometimes labeled "boutique malls". They are often located in affluent suburban areas. Whilemodern day lifestyle centers are fairly new, open-air malls have been around for decades. One such mall is Friendly Shopping Center inGreensboro, North Carolina. The open-air mall opened in 1957 and has adapted to the look and layout of todays modern day lifestylecenters. An expanded section of Friendly Shopping Center called "The Shops at Friendly Center" includes upscale retail and restaurantestablishments such as Brooks Brothers and PF Changs.Lifestyle centers vs. traditional mallsThe proliferation of lifestyle centers in the United States accelerated in the 2000s, with number going from 30 in 2002 to 120 at the end of2004. [2] Lifestyle centers are sometimes depicted as occupying the upscale end of the spectrum of commercial development, at theopposite end of the outlet mall, which typically caters to a wider range of income with bargain prices. The growth of lifestyle centers hasoccurred concurrently with an acceleration of the shutting down of traditional shopping malls, which typically require large sites over 70acres (283,000 m²) at a time when land prices are escalating. Lifestyle centers usually require less land and generate higher revenuemargins, often generating close to 500 dollars per square foot, compared to an average of 330 dollars per square foot for a traditional mall,according to the president of Poag and McEwen.[2] Other advantages lifestyle centers have over traditional enclosed malls are savings onheating and cooling and quicker access for busy customers. Typical amenities at lifestyle centers include plush chairs instead of traditionalplastic seating in common areas.•^ ""The Mall Goes Undercover", Slate.com". http://www.slate.com/id/2116246. Retrieved 2006-05-26.•^ a b Bhatnagar, Parija (2005-01-11). "CNN article: "Not a mall, its a lifestyle center"."http://money.cnn.com/2005/01/11/news/fortune500/retail_lifestylecenter/. Retrieved 2006-05-26.Lifestyle Center’s Evolution
    • 4. Legacy Place Lifestyle Center Dedham, MA
    • 5. Photo Images of Legacy PlacePhoto Images of Legacy Place
    • 6. Photo Images of Legacy Place
    • 7. Photo Images of Legacy Place
    • 8. Photo Images of Legacy Place
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    • 10. Photo Images of Legacy Place
    • 11. Photo Images of Legacy Place
    • 12. Photo Images of Legacy Place
    • 13. Photo Images of Legacy Place
    • 14. Photo Images of Legacy PlacePhoto Images of Legacy Place
    • 15. Photo Images of Legacy Place

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