News: Retail

Simon seeks approval for 774,000 s/f expansion of Copley Place Tower

Simon Property Group is looking to expand Copley Place, adding 114,000 s/f of retail space and 660,000 s/f of residential space. The proposed addition will push the current retail space into the plaza at Stuart and Dartmouth St. with a 54,000 s/f expansion of Neiman Marcus, which currently resides in 115,000 s/f in Copley Place. Another 60,000 s/f will be added for other shops, restaurants and a public wintergarden. On top of the retail component, the proposed design calls for the addition of 280 units for residential use in a tower--including the lower retail floors--that will top out at 47 stories. The units are currently in the works to be designed as condominiums with the hope of attaining a Silver LEED certification, with features, among others, that include rainwater storage, high-efficiency lighting and operable windows--which naturally ventilate the building in order to reduce the burden on heating and cooling systems--among others, to be determined. The mixed-use facility still needs approval from the citizen advisory council and requires permits from the city. The approval process should last the summer and the developer estimates--if the project is approved--by the fall a timeline can be set for the project's completion.
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McEvoy of Conrad Group facilitates $9.5m sale of Sterling Plaza

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Columns and Thought Leadership
Reimagining retail for the downtown - by Carol Todreas

Reimagining retail for the downtown - by Carol Todreas

Before COVID-19, downtown retail had been sliding downwards. A few restaurants and stores were hanging on, but the trajectory was headed south. Now with post- COVID-19 lifestyle changes, old-style retail anywhere has lost its market appeal.
Village centers and local retail: What the market wants - by Carol Todreas

Village centers and local retail: What the market wants - by Carol Todreas

Good news! Brick and mortar is alive and well. Many malls are coming back. Americans are flocking to Europe to walk, shop, eat, and enjoy much needed vacations. Visitors return and talk about the pleasures of walking and shopping in local shops in cities and towns all over Europe.
Placemaking and retail in 2024 - by Carol Todreas

Placemaking and retail in 2024 - by Carol Todreas

Placemaking. That is the word for 2024. While the concept has historical precedence in urban development, it became part of our current culture in the 1960’s when urbanists started to think about cities for people, not just cars.

Keeping the “there” there - by Carol Todreas

Keeping the “there” there - by Carol Todreas

New zoning is a big topic for many communities. Whether it is to comply with the 2021 MBTA legislation calling for more multi-family housing in locales with access to T stations or to address other pressures from public-private entities, zoning for multi-family housing is believed to be a major part of the solution to the housing crisis.