Sears, Kmart, Footlocker, Walgreens and other national retailers are moving back to the inner-city. They are building new stores, renovating old locations, and making money doing it. As President of the Chicago Federal Reserve Bank said in reference to U.S. inner-cities: “You don’t have to cross the International Date Line to find an emerging market. We have some right under our noses.” This article discusses how the untapped retail potential in U.S. inner-cities represents one of the biggest market opportunities in the world.

One smart growth strategy is to encourage better use of existing retail facilities to reduce the need for new construction on the edge of town. This can be done by improving the competitiveness of existing centers through their renovation and repositioning. Communities are reinvesting dollars to make these centers more contemporary, physically attractive and shopper friendly. Changes are being made to tenant mix, architecture, landscaping, parking and signage. The intent is to stay current with fresh concepts, shopper amenities and design improvements.