Portland’s Lloyd Center mall has transformed from a traditional shopping center into a unique community space filled with local businesses, nonprofits, and creative ventures. Here are five takeaways from a series of articles and videos by The Oregonian/OregonLive, which explores how this 65-year-old mall is experiencing an unexpected renaissance during its transition period before planned redevelopment.
1. The mall is thriving with local businesses in place of departed anchor stores.
All anchor department stores have left Lloyd Center, but in their place, a diverse ecosystem of about 60 independent retailers, nonprofits, and activity spaces has emerged. Former chain store locations now house art galleries, a pinball museum, a theater for magic shows, a light saber store and many other local businesses offering unique experiences.
2. Affordable rent is the primary driver of this transformation.
Cheap rent — less than $1,000 monthly for some spaces — has attracted entrepreneurs who couldn’t afford traditional retail locations. Food vendors pay based on a percentage of sales rather than fixed rent, creating opportunities for small restaurant owners.
3. The mall’s future includes planned redevelopment, but with an uncertain timeline.…