A dying mall near the junction of two interstates and within hailing distance of a transportation hub might be ripe for what planners call “repurposing.” If that mall is in a growing, well-populated area that’s short on housing, particularly affordable housing, that repurposing might involve a “highest and best use” that includes a mix of commercial and residential components. A deed filed Thursday with the town clerk’s office revealed Namdar Realty Group, a Great Neck, N.Y., real estate investment firm with a penchant for acquiring struggling properties, had landed Crystal Mall at auction last month, submitting a winning bid of more than $9.5 million. If Waterford has a plan of development for Crystal Mall, the town eventually may have to buy the property itself to pursue the plan, Clapp said, as the City of East Hartford did in acquiring an abandoned Showcase Cinemas on Interstate 84, once pitched as a casino site.
https://www.theday.com/local-news/20230624/crystal-mall-seen-as-suitable-for-mix-of-commercial-residential-development/