One of Oregon’s most recognizable commercial properties is moving closer to a new chapter as plans to redevelop Portland’s Lloyd Center continue advancing through the city’s approval process. The project, which would transform the aging shopping mall into a mixed use neighborhood featuring housing, retail businesses, offices, parks and public gathering spaces, represents one of the largest private redevelopment efforts currently planned in the state.
The redevelopment follows years of declining occupancy at the once thriving shopping destination, reflecting broader changes that have reshaped retail centers across Oregon and the nation. As consumer habits shifted toward online shopping and demand grew for neighborhoods that combine housing, employment and entertainment within walkable communities, many traditional enclosed malls have struggled to remain economically viable.
Developers say the Lloyd Center property offers an opportunity to reimagine nearly 30 acres of centrally located land into a modern urban district that aligns with Portland’s long term housing and economic development goals. Plans call for replacing much of the existing enclosed mall with thousands of residential units, new commercial storefronts, restaurants, office space, expanded pedestrian connections, public streets and several acres of parks and open space…