While about 40% of U.S. department store outlets have closed over the past five years, many are being repurposed rather than torn down. In Texas, Austin Community College transformed the former Highland Mall into a mixed-use campus that includes headquarters for KLRU, Austin's PBS station. The Stavros Niarchos Foundation Library on Manhattan's Fifth Avenue fits beautifully into what was the first department store chain in the U.S. Last year. Amazon bought the former Lord & Taylor flagship store down the block from the SNFL, with plans to convert the 1914 landmark building into office space for 2,000 employees by adding two floors and a rooftop terrace to the 11-story building.

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