FROM THE DESK OF DAVID BERNETT NEMIC Administrator
Why is Mixed-Use Booming?
According to National Real Estate Investor magazine, mixed-use developments are rapidly becoming one of the most popular product types in U.S. development.
Developers and investors alike are increasingly seeking out opportunities to integrate product types in order to achieve the ultimate goal of creating destinations that draw residents, tenants, visitors and patrons to engage, interact, live, shop, work and play.
U.S. construction boomed in 2017, reaching an all-time high of $1.26 trillion in construction spending. Mixed-use developments made up a substantial portion of this spending.
The question is: why are we seeing such a rapid influx?
Here are the top reasons mixed-use developments are on the rise.