Shopping Centers Today

APR 2015

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

Issue link:

Contents of this Issue


Page 46 of 83

with housing shortages, the firm said. Westfield's Stratford City mall is also in the process of surrounding itself with hundreds of new apartments. In Australia, the Sydney-based GPT Group said it will build apartments atop its 300-store Melbourne Cen- tral mall as part of a portfolio-wide adaptive-reuse plan to take advantage of its "air rights." Residents there will enjoy a direct connection to an un- derground train station. GPT is also studying redevelopment options at its Sydney Olympic Park mixed-use com- plex that will include apartment de- velopment and additional retail, plus Samsung Electronics Australia's new corporate headquarters building. U.S.-based Tishman Speyer and Chinese venture partner Lujiazui Group are laying groundwork for a 3 million-square-foot, mixed-use com- plex in the Shanghai's New Bund busi- ness center, featuring upscale apart- ments blended with retail and offices. In Bay City, Pasay, Philippines, SM Development is marketing the posh Shore Residences condos on the pe- riphery of its giant Mall of Asia. In the Singapore market, several malls have added residential space, in- cluding Bedok Mall's eight-story tower, Bedok Residences. Northpoint Mall's expansion plans include a 920-unit res- idential complex set to open later this year. "A lot of value is being placed in co-locating residences with retail, par- ticularly in centers that are close to rail and air-conditioned bus interchanges," said Derek Rossel, a senior manager at Lend Lease Asia. In Dubai, United Arab Emirates, an eye-catching elliptical apartment-hotel building known as The Address–Dubai Mall has opened on the northwest cor- ner of the Dubai Mall property, inside the city's 500-acre downtown commu- nity. Most apartments overlook the Dubai Dancing Fountain, a man-made lake and the world's tallest tower, the 163-story Burj Khalifa. The São Paulo, Brazil, Shopping Cidade Jardim, an open-air trendsetter in the luxury mar- ket, was a trendsetter also in mixed-use residential. The first of nine completed residential towers at the site, which collectively house about 500 units, opened in 2006. At the Oakridge Centre, in Van- couver, B.C., mall owner Ivanhoe Cambridge and Westbank Develop- ment have been approved to build 13 residential buildings, totaling nearly 3,000 units in buildings ranging from six to 45 floors high. In the Vancou- ver suburb of Burnaby, Shape Proper- ties is opening 115 living units at the A p r i l 2 0 1 5 / S C T 47 s o u t h d a l e c e n t e r , e d i n a , M i n n . p h o t o : M a r k t e s k e y p h o t o g r a p h y

Articles in this issue

Archives of this issue

view archives of Shopping Centers Today - APR 2015