Macy’s in Troy is closing. Here’s what could take its place

The Macy’s in Troy is the next large box shop to close. It’s not necessarily a bad sign for future business, but it is part of a pattern that economists are observing throughout the United States.

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    Macy’s in Troy is closing amid a downturn in shopping at stores like the Oakland Mall
    
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    Something entertainment-related is expected to take its place, the mayor of Troy said
    
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    Even as malls continue to close, the space remains valuable and could be used in a variety of ways to stay productive
    

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  Macy’s in Troy is closing amid a downturn in shopping at stores like the Oakland Mall
  
• 
  Something entertainment-related is expected to take its place, the mayor of Troy said
  
• 
  Even as malls continue to close, the space remains valuable and could be used in a variety of ways to stay productive
  

Michigan’s Troy (FOX 2)At Troy’s Oakland Mall, where another big box clothing store is closing, there are tons of deals at the Macy’s store.

By the end of March, Macy’s will close, the most recent in a string of closures for the huge retail chain. Some see opportunity, while others worry about the shifting corporate environment.

We know:

In January, Macy’s declared that it would close 66 underperforming locations, including four in Michigan. Two of those sites were Troy and Sterling Heights, both in Metro Detroit.

By the end of March, the Oakland Mall location will close, becoming just another footnote in the shifting business environment that has seen malls wane as internet shopping keeps growing.

“It’s really like a nationwide phenomenon and Macy’s isn’t just closing stores in Michigan,” said John Stavick, a professor at Oakland University.”I think this evolution is part of a healthy functioning economy to be able to change from one land-use type to another.”

He mentioned ideas for the future at Sterling Heights’ former Lakeside Mall Property, which closed during the summer. There will likely be a significant mixed-use complex with officers, restaurants, and residences.

“The land that these malls sit on, it remains very valuable,” he stated.

What is unknown to us:

What will replace Macy’s is one of the questions raised by its closure.

As stores close, there is more and more empty space in malls. What will move in, however, is yet unknown. The mayor of Troy made a suggestion about something that might have to do with entertainment.

Mario Kiezi, the mall’s owner, is leading the charge.

“Cities and malls are both changing. There will be a slight alteration in everything. He remarked, “I wouldn’t be surprised to see something of that nature because I think Mario has a great big focus on entertainment and family-type activities that he can bring there.”

What they’re saying:

Fans of the former mall location are saddened by the situation, but the mayor of Troy is looking forward to what lies ahead.

“I think the upside of having something new and exciting there is going to be far far better for everybody and I think that will win in the end,” stated Ethan Baker.

The Source: This story was based on information from Oakland University and the city of Troy.