Have you noticed more empty buildings and underutilized space in your community than ever before?
Advances in technology and shifts in culture have gifted us with ‘dead’ space. We see this as an incredible opportunity. Consider these innovative approaches to leveraging underutilized space to transform communities. If you have extra space or an empty building, we are eager to work with you to explore how it could be used it to increase common good!
Dying Mall or Community Asset?
The U.S. has twice as much square footage in shopping centers per capita than the rest of the world. It is no surprise that e-commerce has resulted in a sharp decline in shopping malls, leaving much of this space deteriorating. A recent study shows that an expected 25% of shopping malls will close by 2022 (that’s 220–270 malls). Some of these massive properties are being torn down and turned into industrial sites, while others have been given a second life with a greater purpose for the community.
Innovative investors, developers, and local government initiatives are retrofitting these million square foot properties into assets for their community. Malls have been transformed into elementary schools, universities, churches, and hospitals. These creative solutions save the surrounding neighborhoods from the negative effects of a large deteriorating commercial property. When a dying mall reopens as a fitness center, church, or apartment space, the community is enriched, and the economic benefits are significant.
Empty Office or Wellness Area?
The shift toward remote work has resulted in improved well-being and increased productivity, as well as empty square footage in many office buildings. To make use of this new space, businesses are dedicating it as social, relaxation, and wellness areas for employees to enjoy.
One type of social and relaxation space resembles a boutique hotel lobby. It brings the comfort of home to a corporate environment, allowing a space to sit comfortably and read, work, eat, or have a coffee with a coworker. It provides that comfortable “third space” between work and home. Flexibility in the workplace is the new normal. Workers desire more options than their desk and a conference room, and these cafe and soft seating spaces are one way to provide access to more choice in the workplace.
Another way to make room for wellness is adding a fitness area for employees. It doesn’t have to be a state-of-the-art facility, but having a small gym or studio with fitness machines and weights is a benefit for worker health and well-being as well as organizational culture. The ROI for employee wellness programs can be significant with productivity increasing by 10% or more.
Vacant Lunch Hour or Vibrant Co-Working Space?
Less businessmen and women are going to swanky lunches, and high-end restaurants are looking for ways to turn overhead into opportunity. Restaurants in Philadelphia, New York, and San Francisco are opening their doors as co-working spaces during the day before their hours begin for dinner. Instead of taking on long term leases or expensive build-outs, coworking companies are able to make use of the beautiful spaces already available in their city. The restaurants provide coffee, high speed internet, office supplies, and comfortable seating with affordable membership and drop-in prices compared to larger coworking businesses. Spacious, one of these companies, designed a convenient app for reserving space in different neighborhoods across New York and San Francisco.
Talk about a win-win! Beautiful restaurants that were sitting empty during much of the workday are being utilized and finding new revenue streams, and workers who might not have been able to afford an office in these expensive cities have a great spot to co-work in their community.
Shrinking Church or Reimagined Sacred Space?
The spiritual landscape of our cities is changing rapidly — 6,000 to 10,000 churches close each year in America. Selling these large, beautiful, historic buildings to the highest bidder is painful for congregants and community members. Many denominations have sold their properties to developers who tore them down or turned them into luxury condos, parks, and businesses. Church leaders, local government, developers, and historic preservationists are finding creative solutions to maintain the sacred space in our cities.
With attendance and donations decreasing, many denominations are finding innovative ways to repurpose and revitalize their properties. Churches are making room for nonprofit coworking, studio space for creatives, or appealing to historic landmark laws for preservation. Renting out event space, sharing a building with multiple congregations, or inviting a marketplace or nonprofit tenant have all been successful models.
Empty Space is an Opportunity, Let’s Explore It Together
Imagine what could happen if 10% of all underutilized shared space was dedicated to common good. That is the vision of Link2Lift. Let’s dream about the possibilities together. If you have a property you would like to explore with us, please reach out at hello@link2lift.com. Let’s make room for better.
