Mixed-use is on the rise. We see it here in Florida just as we see it in other urban areas around the world. And while the move toward greater mixed-use development began well before the COVID pandemic, the crisis has brought to the fore just how important it is for investors and community residents alike to diversify and be ready to adapt – not to mention embrace open-air experiences.
For investors, mixed-use properties enable owners to be agile and diversify their development portfolio so that if one business line falters, others will fill in.
For residents and visitors, it also creates a community center that supports all facets of life – living, working, and playing. Office developments will be changing, retail centers will be changing, and where we go to get our social fix and fulfill work obligations is and will continue to be changing.
Why Mixed-Use Development?
Mixed-use areas, especially those that combine vertical and horizontal mixed-use spaces and provide ample outdoor areas, have gained popularity because they offer convenience. Walkability scores well for employees looking to get out of the office mid-day or residents looking to dine out at the end of a long day.
For retailers, having your shoppers accessible also means more feet through the doors. Here in Miami, we’ll be seeing it with retail centers like the Shops at Sunset Place which was recently sold to pave way for a new multi-use space with offices, apartments, hotels, and retail. Other indoor shopping areas will very likely follow with a push to renovate and rebuild more open-air spaces that offer mixed-use leasing opportunities.
If you’re considering investing in a mixed-use development property, come talk to us for your owner’s representation or general contracting needs. Our team at Seacoast Construction understands the unique opportunities and requirements that come with commercial builds and has more than 20 years of experience in the local South Florida market.
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