Greater Cleveland: Innovative Retail Development

One developer is challenging America’s retail development model with its rollout of University Square, a four-story shopping center that was completed this spring in the Cleveland suburb, University Heights.

Multistory shopping centers are common in Europe and Asia, where space is at more of a premium, but they’re rare in the United States. There are advantages, however, to such a layout that U.S. shoppers will come to appreciate, says David D. Wasserman, a principal at Providence, R.I.-based Starwood Wasserman, University Square’s developer.

“If you think about it, it’s much more convenient than shopping in a 600,000-square-foot shopping center that’s spread over five acres,” he said. “You avoid the traffic nightmare of driving first over there to the Gap, here to T.J. Maxx, then on to Target, Kaufmann’s and the grocery store. Here you can make those five trips with one stop.”

The project, which was about 80 percent leased at press time, replaces an aging, stand-alone Kaufmann’s department store and accompanying parking lot with a 620,625-square-foot, value-oriented enclosed mall that includes a brand-new Kaufmann’s. Instead of surrounding the mall with parking, University Square does it the other way around — it wraps the retail around a multilevel parking garage.

If you're looking for creative ways to re-design retail space in your community, this is one to look at.

Go here to read more.

.

.