forbes.com
Sunbelt Open-Air Retail Resurgence: Downtown Summerlin and Fenton Lead the Way
JLL's Third Quarter 2024 Retail Outlook reveals a surge in retail, rent growth, and walkable open-air retail in Sunbelt areas, with successful examples like Downtown Summerlin in Las Vegas and Fenton in Cary, NC, showcasing mixed-use developments attracting millions of visitors and achieving high occupancy rates.
- How do the designs and features of Downtown Summerlin and Fenton contribute to their popularity and success compared to traditional enclosed malls?
- The success of Downtown Summerlin and Fenton highlights a shift in consumer preference towards walkable, open-air retail experiences, especially in warm climates. These projects' high occupancy rates and visitor numbers demonstrate the appeal of integrating retail with residential and entertainment options, creating vibrant community spaces. This trend contrasts with the decline of traditional enclosed malls.
- What factors contribute to the resurgence of retail and the success of open-air, walkable retail centers in Sunbelt locations, as exemplified by Downtown Summerlin and Fenton?
- Resurgent retail, particularly in Sunbelt open-air settings, shows strong growth, with projects like Downtown Summerlin (Las Vegas) and Fenton (Cary, NC) exceeding expectations. Downtown Summerlin, initially planned as an indoor mall, was redesigned as a walkable outdoor center, attracting over 20 million visitors annually and achieving 93% retail space occupancy. Fenton, a mixed-use development, combines shopping, dining, and residential spaces, becoming a popular community hub.
- What broader societal shifts or consumer preferences are driving the preference for walkable, mixed-use retail developments, and how will this trend likely evolve in the future?
- The increasing popularity of walkable, open-air retail points to a long-term trend of prioritizing community and lifestyle integration. Future development will likely focus on creating mixed-use spaces that offer convenience, social interaction, and a blend of retail, residential, and recreational amenities. This model is proving adaptable, as seen in the redevelopment of Old Orchard in Skokie, IL, showcasing its success even outside Sunbelt regions.
Cognitive Concepts
Framing Bias
The article frames the resurgence of open-air retail in a very positive light, highlighting the success stories and using language that emphasizes the appeal and profitability of this model. The headline and introduction immediately set a positive tone, potentially influencing reader perception before presenting a balanced perspective.
Language Bias
The language used is generally positive and enthusiastic towards open-air retail, using words like "resurgence," "intriguing," and "successful." While not overtly biased, this positive framing might influence readers' interpretation. For example, instead of "outstripping even Disneyland," a more neutral phrase could be "attracting over 20 million visitors annually.
Bias by Omission
The article focuses heavily on successful examples of open-air retail developments but omits examples of unsuccessful projects or those that faced challenges. This omission might lead readers to believe this retail model is universally successful, ignoring potential downsides or market limitations.
False Dichotomy
The article presents a somewhat simplistic view, suggesting that open-air, walkable retail is inherently superior to enclosed malls. While the examples support this, it overlooks the potential success of other retail models or the specific circumstances that contribute to the success of open-air centers (e.g., favorable climate, affluent demographics).
Sustainable Development Goals
The development of walkable, open-air retail centers like Downtown Summerlin and Fenton contributes to sustainable urban development by creating vibrant, mixed-use spaces that encourage social interaction, reduce reliance on cars, and improve quality of life. These projects integrate residential, commercial, and recreational elements, promoting a more sustainable and livable urban environment. The redevelopment of Westfield Old Orchard further exemplifies this by incorporating green spaces and pedestrian-friendly design.