Mixed-Use Developments
It is typical to have a combination of residential and commercial units in a single building within a city in response to a fast-growth environment. In order to provide these settings, mixed-use developments effectively infuse commercial and industrial development with residential living.
As more and more people are expressing interest in living in mixed-use, transit-accessible communities, the mixed-use developments are in the high demand and the large portion of the demand is from the millennial buyers. While more Americans want more walkable, urban centres to be created, every type of homeowner essentially wants a deeper sense of community.
The benefits of mixed-use developments are:
- cultivating more residential and commercial people so increased interest and foot traffic guarantee the investors a steady of the income stream and future potential increase of the property value.
- better property management of mixed-use development because management service company requires taking proficient knowledge and experience to satisfy the entire community which is encompassed by residential, commercial, and industrial real estate. As a result, mixed-use development has higher quality tenants, shorter vacancy cycles, better processes, and improved support.
- excellent location in densely-packed areas that are in close proximity to existing amenities such as schools, libraries, parks, shops, restaurants, and even underground/train station. It naturally creates connected and inclusive communities.
- offering higher income, cash flow, longer lease, and less competition compared to other types of development because of mixed-use development has the diversification of both residential and commercial real estate.
- more people prefer to live in communities containing houses within an easy walking distance of community amenities so investors put walkability at the top of their list to put more demand for constructing more mixed-use developments.
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