There is sometimes an evolution in developments. Before the strip mall with a parking lot, it was a rail yard, an empty lot and a parking lot. While it might not be the best place for a suburban style strip mall, it does serve the community around it both for people who can walk or take transit and those who drive. I actually lived across the street before it was developed and it was very bleak, so whatever one might think about strip malls it was quite an improvement. I suspect eventually it will be redeveloped to better fit the area, but probably not any time soon as the return and value of the land do not justify the cost to do so yet.
There are many other spaces that are under utilized nearby, including I think the Parks, which would do a a lot to improve the area. One step at a time.