There are a lot of changes ahead for the Lloyd Center as businesses close and others prepare to open.
Retail experts said people are moving away from national retailers and chain restaurants and are instead wanting more local options. The Marshalls at the Lloyd Center is closing. The Applebee's across the street is already closed. Experts said both closings are in line with the push we’re seeing for more local stores.
“It's a challenging environment with large retailers, a lot of big box stores going out of business. So, you kind of have to do that and I think they've got a bright future because they've got a lot more residential activity in this market, a lot of apartments, so they need to find things to make this more like Portland. More local and less national,” said commercial real estate developer Mike Nugent.
The Lloyd Center recognized this trend and started what they call Lloyd Local, which features local retail pop-ups in the mall on a regular basis through 2019. Many are excited about the changes.
“I work in the area,” Claire Hovson said. “I don't get over here as often as I would like to, but yet it seems like there are some really nice changes.”
Other changes include a new live music venue Live Nation plans to open in 2020 where Nordstrom once was. According to a Live Nation spokesperson, the company is working intensely to make sure that the venue will truly reflect the culture of Portland, both in its name and its content.
However, it is not just the Lloyd Center itself that is changing. The neighborhood around it is developing as well. A 12-story affordable housing apartment complex is currently under construction on Grand and Holladay. It is expected to open next fall or winter. More details here:
