Tuesday, April 18, 2017

The Pros and Cons of Mixed-Use Development


Scott Fish, a developer based in Tennessee, currently serves as the principal of UP Development. Under the leadership of Scott Fish, UP Development has partnered with property owners and developers to successfully design and build retail centers, apartments, hotels and mixed-use projects.

Mixed-use refers to developments that include a mixture of business, retail and residential spaces designed to work together as well as complement each other. The benefits of a mixed-use development include utilizing the land for more hours per day than a single-use building would. Because mixed-use developments are often located near transportation hubs, it decreases the reliance on cars and allows residents to walk or bike to work and to complete errands. Retailers benefit from the proximity of their customers, while residents enjoy being close to retail options.

Mixed-use projects can be problematic as well, however. Financing, zoning and permitting can get exponentially more difficult, and projects typically take longer to complete.

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