Where We Buy: Retail Real Estate with James Cook Second Horizon's Community-Driven Approach to Revitalizing Malls - Where We Buy #356
Nov 7, 2025
Howard Levine and Camilo Varela, Managing Partners at Second Horizon Capital, share their innovative approach to revitalizing struggling malls into vibrant community hubs. They discuss the timing of their investments post-COVID and reveal the importance of community engagement in their projects. Their successful strategies include transforming traditional retail spaces, enhancing sustainability, and creating engaging local events. They emphasize the challenges positive impact investing presents, while showcasing their commitment to both community enrichment and sound financial returns.
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Platform Built For Community-First Mall Revitalization
- Second Horizon launched to reimagine underinvested malls into long-term community hubs.
- They combine operating, leasing, and economic development expertise to drive both impact and returns.
Early Portfolio And Chicago Ridge Stats
- Second Horizon's portfolio includes six malls like Stony Point, Park Plaza, and Chicago Ridge.
- Chicago Ridge attracts over 7.1 million annual visitors and serves ~700,000 people within seven miles.
Prioritize Team, Events, And Core Capital
- Start by expanding the onsite team and increasing local events to rebuild community ties.
- Invest in infrastructure (roof, HVAC, lighting, signage) and tenant upgrades to change perceptions quickly.