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Heidenberg Property Group plans to redevelop the southern portion of Colonie Center in Colonie, NY, to better integrate with the rest of the mall, revitalize the space, and make use of underutilized parking areas.
Bohler’s Albany team is leading the site design, which includes 40,000 SF of interior space featuring a kids adventure park above Whole Foods, as well as attracting new tenants. The redevelopment proposal submitted to the Colonie Planning Board also calls for three new outparcels in the parking lot, in addition to a new Bank of America branch already under construction.
Converting Parking Lots to Profit: Shopping center owners are focused on experiential retail options that attract and retain customers. Retailtainment venues, such as bars, restaurants, theaters, and bowling alleys, are becoming popular additions.
Planning board members responded positively to the concept, approving it to move forward with a traffic study and recommending the addition of more green space before final approvals.
Developers say similar mall revitalization projects have been successful elsewhere and believe consumers — especially younger generations — are returning to in-person shopping experiences.
Game-changing tenants: Developers are turning retail challenges into opportunities, reimagining malls as vibrant mixed-use and community-focused destinations designed to bring foot traffic, diversify revenue streams, and create long-term value.
Read more here.
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