Mixed Use Property Development Tips: Build It and They Will Come
Mixed-use apartments can provide significant quality-of-life enhancements for tenants. Living where shops, pools and workout facilities share building spaces leads to increasingly fulfilling living arrangements. Real estate developers should recognize the practical benefits of creating a space where dwellers and businesses not only coexist but also benefit one another — that is, if the plan is implemented thoughtfully. Here are some tried-and-true mixed-use apartment development strategies that will allow you to promote perks to potential tenants.
Create a True Multi-Use Space
A mixed-use apartment should prioritize tenant needs on par with those of businesses. The ideal complex will host a rich range of amenities to create a desirable stay-at-home, lifestyle experience. Necessary infrastructure should include practical additions, such as markets; healthful ones, such as swimming pools and fitness facilities; and familial spaces, such as parks and playgrounds.
Locate Near Transportation
While a good multi-use facility can prove somewhat self-sustaining, tenants. will wish to leave for various entertainment opportunities and need to travel to appointments. Real estate developer Steven Taylor LA promotes that apartment developments near municipal transportation lines enrich the lives of tenants. A good property is one that can sustain residents for whom owning a car is an option, not a necessity.
Bring in Businesses That Make Sense
Businesses that inhabit the apartment space should be the right fit for the location. The business needs to have researched the neighborhood to make sure the surroundings and the business are the right fits for each other, Steven Taylor Los Angeles further emphasizes. For example, a high-end clothing shop would not make sense in an apartment in a struggling neighborhood; however, a small market that sells fresh foods can thrive under any circumstances. Overall, developers can bring in businesses that will fit where the outlook trends toward a neighborhood on the verge of revitalization.
Open Central Gathering Spaces
To foster a sense of community, design centers that will provide opportunities for tenants. to interact with one other and with business staff. For example, a courtyard can be used to host presentations, music events, parties or tenant-committee meetings. If space allows, build one such space inside and zone another outside; tenants. will then find they can take advantage of good-weather days but can still hold meetings when the forecast is grim.
To attract customers, apartments more and more need to feel as if they are communities. While some tenants seek isolation, most want options at their doorsteps for lifestyle enrichment. A well-implemented mixed-use apartment can ensure inhabitants happily sign the lease year-after-year, keeping the building full and thriving.