Mixed-use properties include the residential as well as commercial spaces and are known to benefit the end users, investors, and developers. Even though this trend has been there for years, like, for instance, shops on the ground floor and residences above but today, the view of the mixed-use development has changed a lot. Nowadays, such projects consist of retail centers together with hotels, apartments, offices, and in many cases, all of these. In fact, there are some developers who go beyond this mixed-use concept and include schools and hospitals along with fitness centers and restaurants too.
Mentioned below are some of the advantages that the so called ‘mixed-use developments’ or Commercial cum residential buildings offer:
- From the point of view of the real estate developers, the main advantage that they get by selling the mixed-use developments is that they can get entry into commercial, residential, as well as retail sector at the same time.
- In case you are a buyer and wondering about the benefits that you can get by investing in such properties, then it is important to note that it can bring you high return on your investment, good rental amount. And for living purpose also, it can prove to be quite convenient as you have everything within easy reach.
- Moreover, both the residential and commercial segments create demand for each other. For instance, those living in the residences become the customers of the nearby hospitals, malls, and schools. Similarly, the employees working in these commercial establishments look for residences in the nearby areas.
- As the mixed-use developments consist of restaurants, housing complexes, hospitals, schools etc., the need to use private vehicles reduces to a great extant. This is because people can either reach their destination simply by walking or availing the transport facilities made available within the complex. From the point of view of the buyers, this can help them save a lot of money and less use of private vehicles can improve the air quality and decrease greenhouse gas emissions.
Thus, it can be said that the mixed-use developments is the future of real estate. While the buyers can benefit from the offices and malls within the shopping centers, the developers on the other hand are able to sell their units easily.