(Ian Ritter is national online editor for GlobeSt.com/RETAIL.)
CHICAGO-As mixed-use retail centers become more common,developers are realizing that housing is a key component in thesetypes of projects, said speakers here at the International Councilof Shopping Centers' Fall Conference here Tuesday. "Housing doescreate great synergy with the retail department and will helpcenter sales," said Emerick Corsi, executive vice president ofCleveland-based Forest City Enterprises.
Corsi was referring to his company's Victoria Gardens center inRancho Cucamonga, CA, which has 1.3 million sf of retail, includingsuch anchors as AMC Theatre, J.C. Penney and Macy's. The project isadding 500 residential units that executives hope will boost thecenter's already strong sales per sf of $600.
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