Trends suggest that the old concept of an suburban mall no longer works. Redeveloping such sites are challenging at best and require tremendous cooperation from public and private interests. Redevelopment as a mixed use urban-style green project makes a lot of sense and protects the investment from the developer/owner’s perspective and the tax base from a public perspective, as well as provides jobs and suitable housing. Indeed, many suburban towns are  looking for a walkable downtown that gives the town a sense of place. See this article as one of several such examples.