Benefits Of Greyfield Conversion

Please Note -- edit-password now required. Due to the amount of "comment spam" that has hit this wiki, a password is now required to edit the site. The edit-password is human.

---

Ability to Spread Market Risk

The entire project does not hinge on the market demand for only one use. In certain cases, one can move ahead with some components, while other pieces may wait until the market returns.

Public Assistance

Since the site impacts will be mitigated and the mall replaced with a desirable walkable environment, the city in all likelihood will want to see the project succeed, especially if the community has been involved in the design process. Therefore, the city is more likely to approve the redevelopment project and/or provide infrastructure or contribute some other form of financial assistance.

Opportunity to Create Greater Long-Term Value

The asset will have a higher likelihood of appreciating in the long term as the activities from the different uses reinforce one another and rents reflect higher pedestrian traffic and improved pedestrian amenities.

Possibility of Creating Higher Short-Term Value

Once approved, portions of the site can be sold to third-party developers at a higher price than if the entire site had been sold for land value only. This will also allow the owner to concentrate on vertical development where they have more experience and comfort.

---

Return to Malls Into Mixed Use Transformations

Last edited by JeffBarke. Based on work by JamesCarlson.  Page last modified on March 09, 2005