Mixed-use developments combine multiple types of properties including commercial, residential, and industrial real estate properties into one single and compact area. Mixed-use developments provide a multitude of benefits to residents, developers, and business owners, which is making it an increasingly popular type of development. Read on below to see what kind of benefits it offers.
Benefits to residents include shops, workplaces, and restaurants within walking or biking distance. This eliminates the need for a car, which can lower your monthly costs. Another benefit is the housing is often smaller and more affordable than what you would find in suburbs.
Benefits to business owners include less stressed and more productive employees due to the short commute and easy access to surrounding businesses.
Benefits to developers include risks spread out over several different markets and the potential for greater financial stability over time by signing longer-term leases with commercial tenants.