Walmart, the leviathan of the U.S. retail economy, has had a tough year. So tough that the company’s new CEO is prescribing a surprising strategy to slow decaying sales: Build smaller stores. And, in at least one case, put housing on top of them.
Fort Totten, a neighborhood in northeastern D.C., is about to be home to a new type of Walmart. At 125,000 square feet, it’s not quite as small as the other miniature stores Walmart has opened up elsewhere, but it’s unique for another reason: 345 residential units will be stacked above the ground-floor podium occupied by the megastore.