For more than 40 years, Arrowstreet has been designing small- and large-scale retail and mixed-use projects. Arrowstreet understands today's economic climate requires reevaluating retail development trends to “find the intersection between the economic needs and goals of the owner and the realities of the market in ways that provide opportunities to enhance the physical and social environment,” according to Kevin Nice, a principal with Sommerville, Mass.-based Arrowstreet.
Developers have been transforming retail centers with a broader mix of uses and more connective layouts for many years. Today the repositionings, often made possible by store closures, are more aptly described as re-visioning. Beyond customer retention or increased market share, the projects aim to increase sustainability and provide new amenities, all while layering the economic viability of more uses. Museums, schools and churches have come into projects and retail has been added to convention centers, public buildings and universities, blurring the lines between public and private, while adding value to both.
Transit-oriented development is becoming increasingly important as developers look to leverage infrastructure dollars to help projects move forward. “We are seeing transit-oriented development as a potential solution to solving today's retail woes, particularly in contexts that may have previously been exclusively retail. While it is essential to understand what makes retail tick, there is added value in utilizing placemaking principles to guide creative interfaces with other uses — including residential, office, and entertainment. The layering of transit into the equation could certainly help reposition distressed properties for the new marketplace,” says Michael Wang, an associate principal with Arrowstreet.
Current Arrowstreet projects that reflect these ongoing trends include the retail portion of the Hynes Convention Center in Boston; CitySquare, a mixed-use development in Worcester, Mass.; Maine Street Station in Brunswick, Maine; and Wisconsin Place, a mixed-used development in Friendship Heights, Md.
212 Elm Street
Somerville, MA 02144
Size of Firm: 60
Year Established: 1961