Knowing the benefits of mixed-use development

 

When we think about mixed-use development, we think about a multi-faceted building - from podium to apex - where each component is a main activity. In this article, Gene Bernshtam, who specializes in mixed-use properties, will share with us the benefits of this type of development that even dates back to the beginning of civilization.

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Historical precedents

Ancient Rome has old market squares where trade and commerce are intertwined with administrative offices, and even a library. During the industrial age, however, the trend has reversed from city to suburban life due to strict zoning laws dividing living and working areas. The invention of automobile even reinforced this. Nowadays, people are moving back to the cities where they can find lots of opportunities in a single location, as if adopting the idea of ancient Rome.

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What is a mixed-use building?

A mixed-use development or building, for that matter, is a microcosm of a community inside a single edifice. Gene Bernshtam adds that a mixed-use building typically includes offices, retail stores, restaurants, hotels, entertainment, and residences. In the 1990s, a relaxation of zoning laws enabled architects and city planners to develop creative ideas in response to the various needs of city dwellers that can only be found in one location.

Benefits of mixed-use development

Maximizing a piece of land while accommodating a diverse occupancy, among others, are the leading benefits of a mixed-use development. At the same time, it addresses the city’s population density by providing a single location where they can find their vital needs. Having said that, investment opportunities also thrive in a mixed-use development where entrepreneurs can grow their businesses while they invest, for instance, in a multi-family dwelling unit.

Gene Bernshtam currently leads real estate firm Avalon Holdings LLC, which specializes in apartment buildings and mixed-use properties. Aside from consulting services, the company focuses on investment, development, management, and repositioning underperforming assets. For more information, please visit this website.

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