A new shopping mall in the historical center: context, strategy and our experience
On October 16, 2025, Bolzano inaugurated one of the most ambitious retail projects in Italy: WaltherPark. A €500 million investment designed by star architect David Chipperfield, with 80 stores, 31,000 square meters of GLA, and international brands such as Esselunga, Peek & Cloppenburg, Nike, Starbucks, and Mercato Centrale. More than just a shopping center, it is a true lifestyle quarter capable of redefining the concept of urban retail. For Sferica, this project represented a unique strategic opportunity. Three stores have been completed, two pop-up brands are ready, and a new construction site is already underway for an opening scheduled for early 2026. .
An Evolving Landscape for Shopping Centers in Italy
After years of uncertainty, Italian shopping centers have definitively overcome the pandemic crisis with performances that show structural growth. According to the CNCC-EY Observatory, which monitors 300 facilities with approximately 10,000 stores monthly, 2024 closed with a +0.7% increase in turnover compared to 2023, while footfall grew by +1.6%.
But it is 2025 that confirms the sector’s solidity: in the first nine months, €7.8 billion was invested in Italian commercial real estate, an increase of +35% compared to the same period in 2024.
“The data for the year just ended confirm the sector’s determination and steady growth even in the absence of exogenous factors,” affirms Roberto Zoia, president of CNCC. “This is structural growth that is set to continue, with the return of investor interest dictated by the solidity of the business fundamentals.”
Is WaltherPark a Strategic Gamble?
In this context of recovery, WaltherPark perfectly embodies the new trends in the sector. Between 2024 and 2027, 13-15 new shopping centers are planned in Italy, including openings and expansions. Given the positive trends, the decision to build a brand-new shopping center in the heart of a historic center may seem counterintuitive or at least a bold choice.
The Strategic reasons behind a bold choice
On the one hand, there is a drive to revitalize city centers by combating the phenomenon of commercial desertification. Many Italian historic centers have suffered from the closure of traditional shops, and local administrations are seeking solutions to reverse the decline. Initiatives such as the Urban Commercial District aim precisely to encourage new commercial establishments in central areas.
On the other hand, there is a strategic-commercial motivation: to bring the experience of the “covered” shopping center directly to the urban consumer. A historic center offers a resident and tourist catchment area that a suburban shopping center must instead conquer by leveraging mainly the attractiveness of the brands and the availability of parking. A shopping center that is well integrated into the urban context can become a complementary attraction to traditional streets, rather than a competitor. The important thing is to focus on an innovative concept and a mix of shops and services that does not simply duplicate what already exists, but adds new experiences: food and entertainment areas, cultural events, wellness, and socializing.
What Makes Waltherpark Special?
WaltherPark stands out for several reasons:
- Strategic location: located between the train station and Piazza Walther, with the new Walther Tunnel (350 meters) and the pedestrianized Viale Stazione, the mall becomes the new beating heart of the city, connecting mobility and retail.
- Experiential concept: not just shopping, but an integrated offering with Mercato Centrale (23 food stalls open until 11 p.m.), Virgin Active (2,000 sq m gym), Salewa Cube for climbing, and Falkensteiner Hotel with 113 rooms. The “experiential hub” format responds to the transformation taking place in shopping centers, which are evolving from places of sale to relationship platforms with flexible and connected spaces.
- Premium product mix: international brands making their debut in Italy (Peek & Cloppenburg) or South Tyrol (Esselunga) create strong initial traffic and position the center as a leading retail destination for the entire Northeast.
Sferica’s Contribution: 3 stores and 2 pop-ups to bring life in spaces
Sferica’s contribution to WaltherPark consists of five completed projects (three permanent stores and two pop-up brand ready stores) plus a sixth construction site that has been launched for an opening scheduled in the first half of 2026. This ongoing presence is no coincidence: working in a shopping center that is in the process of opening means positioning ourselves at the center of a bustling ecosystem, where dozens of brands are simultaneously setting up their spaces.
The strategic value of this choice is clear: while we are carrying out a project for one client, we are constantly visible to other retailers. Each construction site becomes an operational showcase for our skills, generating networking opportunities that would take months of commercial activity to achieve in isolated street-level stores.
A Tailor-Made approach for every client
One of the distinctive features of our work is the awareness that every retail space is unique. An international chain has completely different needs from a local brand with just a few outlets. Interior design concepts, implementation timelines, available budgets, and the level of customization required vary radically.
Pop-up: testing the market with limited Investment
The two pop-ups, commissioned directly by the shopping center, represent a different opportunity. Allowing emerging or local brands to test the market in the shopping center with reduced costs and time. Our intervention included the creation of neutral but refined finishes, standard systems, and flexible lighting, so that each new occupant can quickly customize the space and open in a short time. This formula is particularly attractive for those who want to validate a concept before committing to a permanent investment, or for brands seeking temporary visibility during seasonal events.
Operational Development and Coordination
For the reasons mentioned above, each WaltherPark construction project was managed by a dedicated site manager, who was not limited to technical coordination but also became the customer’s point of reference for translating the brand’s vision into physical space. In all cases, Sferica coordinated the design, construction, system engineering, and finishes, complying with the technical standards of the shopping center and the brand guidelines of the clients. The final result must satisfy two clients: the customer on the one hand and the shopping center’s owners on the other, each with their own quality, regulatory, and timing standards. It is this dual responsibility that makes working in a shopping center more complex but also more structured than working in an independent store.
A look for those who develop retail strategies
An important aspect, especially for those planning new openings, is understanding how the work (construction and management) in a shopping center changes operationally compared to an independent store on the street. The differences affect various areas: regulations, times and schedules, architectural constraints, management costs, and even different consumer behavior. Shopping centers offer a “turnkey” environment with significant advantages, from centralized security to dedicated parking, from shared marketing to facility management. However, they require adaptation to common rules and shared costs (condominium fees, promotional contributions, setup standards).
For those working on retail development plans, cases such as WaltherPark are valuable laboratories. They show how to scout unconventional locations, adapt the store format to the urban context, and create synergies that go beyond the confines of the store itself. The ability to interpret these spaces and transform them into concrete opportunities is what distinguishes a successful project from a risky investment.