Investors Want to Know: What Defines A Lifestyle Center?

Published Sunday, December 01, 2002

Everybody knows one when they see one, but it's hard to clearly define what a lifestyle center is. That was the consensus among developers and retailers at ICSC's 2002 Open Air Centers Conference in Chicago this October. And money hangs in the balance of nailing down the nebulous concept. “The financing segment is pushing for a definition so they can get their arms around it and either finance it or not finance it,” said Michael McCarty, president of the community centers division of Indianapolis-based Simon Property Group. To standardize the concept, ICSC recently laid down the lifestyle rules.

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