Renovations needed or not, I've been to PSM recently a few times for some walking not out in the heat, and I am quite impressed how busy it is these days. Just packed with people.
Edit: that said, I think they could do an absolute home run with structured parking built on some of their lots and apartments on a few more of them. Maybe once OAK is up and running the mall might see some possibilities with the land they have to work with.
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