Doubling Down on the Rebirth of the American Shopping Mall

By Krystina Gustafson, CNBC

For the first 100 years of its existence, the tiny town of Williston, North Dakota, was known for little more than ranching, farming and its proximity to where the Yellowstone and Missouri rivers meet. It was a true frontier town, with a small downtown district and the closest shopping mall some 125 miles away. Blink and you could miss it.

Today Williston—which sits atop the oil-rich Bakken shale formation—is enjoying a second life as a key player in the state's booming economy. Following several years of record population growth and real estate development, the town will soon boast one more draw: a $500 million retail mecca complete with shopping, a hotel and indoor water park. Not bad for a town of just 32,000 people.

Williston is one of five major projects across the U.S. that highlight the many challenges facing the modern-day shopping mall—from the rise of online buying to Americans' flight to the cities. But they also identify some possible solutions, whether it's incorporating elements of what makes that town unique, or weaving in other forms of entertainment.

To critics, investing millions of dollars in a shopping center during the 21st century may seem like a loser's bet. Since 2010, more than two dozen enclosed malls have shuttered and 75 others are on the brink of failure, according to Green Street Advisors. Other industry calculations estimate that about one-third of the 1,200 enclosed malls built in the U.S. are dead or endangered.

For the rest of the article, including pictures and maps, visit the CNBC website here.