Source: Facebook | Goodwill
Goodwill in Washington, D.C, in a move meant to lend a big helping hand to one of the communities it serves, is partnering to build affordable housing and a childcare facility as part of the same complex as one of its stores.
The deal, which is being handled with Arlington County-based affordable housing and mixed-income rental apartment company AHC, Inc., is a first for Goodwill, according to local Virginia news affiliate ARL Now. The layout of the complex will consist of a Goodwill storefront and childcare center on the first floor, a processing center on the second and 128 apartment units above that.
Goodwill has historically appealed to lower-income, value-driven shoppers as a non-profit organization with a donation-based thrift store acting as its retail front end.
While the D.C. project is Goodwill’s first foray into providing mixed-use offerings that could be helpful to its core shopper, it is not the only retailer to envision itself as part of a mixed-use community environment.
In the same county where the new Goodwill location is planned, albeit catering to a customer on the opposite side of the economic spectrum, is Pentagon Centre, a mixed-use complex featuring luxury apartments alongside such retailers as Best Buy, Nordstrom Rack, Marshalls and Costco, Urban Land reports.
The Pentagon Centre development is only one example of the trend of developers adding residential living space to what was once retail-only real estate. This is sometimes accomplished by building apartments directly adjacent to existing retail and sometimes by replacing shopping malls entirely with new mixed-use developments. Such real estate space is often already conveniently located.
Mixed-use retail anchored by a grocery store is also becoming a more common sight throughout the U.S.
A 2021 report by Ziegler Cooper suggests that putting a first-floor grocery store in an apartment complex allows grocers a unique opportunity to gain a foothold in urban neighborhoods. It also cites data that first-floor grocers drive rental premiums and accelerate rent growth.
In the case of one mixed-use H-E-B location, the apartments that the grocery store anchored experienced positive rent growth during lockdowns at the start of the novel coronavirus pandemic, while other comparable apartments experienced losses.
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