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Managing the Complexities of Mixed-Use Developments
September 01, 2023

The recent resurgence of mixed-use developments, particularly in urban communities, has been spurred by the shortage of housing, the growing need for affordable housing, and the tepid demand for retail (due largely to changing spending habits and the growth of internet commerce). In fact, in many jurisdictions it is difficult to pursue entitlements for commercial uses without including apartments as a component of the process; and while mixed-use development has a long history, as with most aspects of real estate development, it involves more challenges and complexities than it did in the more distant past.

In the author’s experience, most mixed-use projects involve retail and residential components with the residential piece accounting for a majority of the square footage—and, in most of those cases, more than half the value. The fact that a project is mixed-use impacts each aspect of the development process, including: (1) zoning and land use, (2) design and integration of the dual uses, (3) financing, (4) construction, (5) management, and (6) sale.

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This article was originally published by Multi-Housing News on August 30, 2023.
Authored By
Image: Robert P. Friedman
Robert P. Friedman
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Development Real Estate
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Real Estate
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