Simon Property Group increasingly is embracing experiential strategies creating retail villages infused with residential developments, with a growing expectation that these mixed-use communities will be the next generation of post-pandemic malls.
The largest mall REIT announced this week its latest hybrid project for an emerging hybrid age: the company has filed plans to convert a parking structure into a 360-unit, five-and-one-half story residential campus at Stoneridge Shopping Center in the East Bay city of Pleasanton.
The 618K SF apartment building will replace a 700-vehicle parking facility that will be demolished. Simon is planning to build a new 383K SF parking garage that can hold 473 cars—inside the new apartment building.
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