Replacing those vacant and underutilized strip malls and shopping centers with developments that mix residential housing with stores, restaurants, hotels and commercial space could help the state address its affordable housing needs, experts said. Housing experts and real estate industry leaders during the Urban Land Institute’s spring meeting in April said retail space is overbuilt in the U.S., and the shift to online shopping has prompted retailers to reduce their square footage. That consists of about 421,000 homes for people with moderate incomes, and about 1 million for people with low or very low incomes. To address California’s housing needs, 2.5 million additional homes need to be constructed over the next eight years, according to the state Department of Housing and Community Development’s 2022 statewide housing plan, released earlier this year.
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