Greyfield(as defined by aboutremediation)
The term “greyfield” is a term coined by some analysts to describe the emergence of under-performing and/or declining shopping centre proprieties or strip malls. Most greyfields are a problem for urban development and economic growth but are not necessarily “brownfields”
A number of indicators can be used to identify greyfield locations. Typical signs of declining health include high vacancies, increases in tenant turnovers, the lost of anchor tenants and national chains; and, the decline and/or lack or reinvestment in the physical structure of the mall.
It should be noted that the redevelopment of key brownfield properties adjacent to greyfield properties has led to the revitalization of these sites and the surrounding community.
Theoretically, the redevelopment of greyfield mall sites can benefit non-greyfield malls through redevelopment and construction of mixed-use commercial and residential
projects on greyfield mall sites. Redevelopment of greyfield mall sites replaces obsolete properties with urban synergies and increases households in trade areas.
flickr phot cred: fPat
