2014 Trends in Mixed-Use Developments

Walkability, vibrancy, community, all traits of mixed-use developments that have been called a trend to watch in 2014, as the demand to live, work, and play in one location continues to grow at remarkable rates. Consumer and tenant interests are transitioning from the hustle and bustle of large urban areas to small town, niche environments. A large portion of this increasing demand is driven by the young adults making up Generation Y who are graduating or still in school and want to live close to where they work and play. Others who desire more variety within their community and who are not ready to settle down in suburban neighborhoods support their demands.

mixed use development

Current and future mixed-use developments vary in their purpose, function and offerings and include a wide mix of alternative destination styles and features. The following are some of the most popular trends for 2014.

Main Streets

An environment that is pedestrian friendly, designed similarly to a town square or a city strip. Scottsdale Waterfront, a thriving mixed-use development in Scottsdale, AZ created a property consisting of two 13-story condominium towers called the Waterfront Residences, connected by adjoining office spaces, restaurants and retail establishments. The design by Opus West creates the perfect live, work and play atmosphere, giving residents and consumers alike the feeling of ultimate luxury and convenience, all within a short walk.

Active Lifestyle

Upscale lifestyle boutiques and nationally recognized “healthy” retailers, restaurants and grocers, such as Lululemon and Whole Foods are moving out of strip malls and into mixed-use developments. These health conscious retailers have done exceptionally well since the recession and are attracting a younger, more affluent crowd. Successful developments include at least an “anchor” grocery store, health club, farm-to-table restaurant and a few lifestyle boutiques. This rising trend leads to the overall appeal of the property by fulfilling active lifestyle needs.

Entertainment Destinations

Entertainment venues such as dine-in theaters, microbreweries, and outdoor amphitheaters are thriving in mixed-use developments. They are as appealing to residents and tenants as they are to neighboring communities and serve as a place to meet and mingle. In additional to adding to the social interest of the developments, these venues are driving incredible amounts of traffic to surrounding retailers.

Hotel Partnerships

When hotels collaborate with retail and mixed-use developments, they experience increased market share, potentially 20%-40% sales increases, reports Global Hospitality. And hotels in these developments can demand 30%-40% rate increases per room compared to hotels not associated with or located within a property that offers variety and convenience for shopping and eating.

Transportation Convenience

Consumers and tenants alike agree that the proximity to public transportation is a huge benefactor in the decision to move into a mixed-use development. MultiHousing News reported in their Apartment Market Statistics that the majority of people would rather live in a smaller home with a smaller commute over a bigger home with a longer commute. Location continues to be key.

Now more than ever consumers desire a connection to their neighborhood and mixed-use developments are providing the solution.

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The Point at Bella Grove

AT A GLANCE

Atlanta, Georgia

Founded in 2011

National real estate investment manager focused on the U.S. rental housing sector

Invested over $2 billion across more than 23,000 conventional multifamily and purpose-built student housing units located in the South, Southeast and Midwest markets

Disciplined investment approaching providing private investors with a fully transparent real estate portfolio

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Tanger Fall Campaign

AT A GLANCE

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Tanger Factory Outlet Centers, Inc. is a is a publicly-traded REIT with more than 36 years of experience in the outlet industry

Operate and own a portfolio of 43 upscale outlet shopping centers located in 22 states coast to coast and in Canada

The portfolio totals approximately 14.8 million square feet and leases to over 3,100 stores operated by more than 500 different brand name companies

Attracts more than 188 million shoppers annually

Partner since 1997

Tanger 2017 Campaign

AT A GLANCE

Greensboro, North Carolina

Tanger Factory Outlet Centers, Inc. is a is a publicly-traded REIT with more than 36 years of experience in the outlet industry

Operate and own a portfolio of 43 upscale outlet shopping centers located in 22 states coast to coast and in Canada

The portfolio totals approximately 14.8 million square feet and leases to over 3,100 stores operated by more than 500 different brand name companies

Attracts more than 188 million shoppers annually

Partner since 1997

SunTrust Park

AT A GLANCE

Atlanta, Georgia

Founded in 1992

Real estate development firm specializing in urban retail mixed-use supercenters

Major developments in Atlanta, Denver, Florida, South Carolina, and Canada

Committed to enhancing neighborhoods and communities by investing in what are often considered marginal or transitional areas

Partner since 2015

Stafford Properties

AT A GLANCE

Tifton, Georgia

Commercial real estate firm focused on retail and hospitality industries operating in three divisions: Management, Development and Investment

Renowned for its core values of entrepreneurial spirit, work-life balance, doing what is right, valuing the team, and giving and expecting respect

Property holdings include 1.7M square feet of retail and office properties in the Southeast with an average occupancy rate of 95%

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South Walton Food & Wine Festival

AT A GLANCE

Miramar Beach, Florida

Founded in 2013

Over 800 wines, celebrity winemakers, chefs, craft beer brewmasters and special guests

Performances by Nashville singer/songwriters and first-class wine and food seminars led by special guests

Benefits Destin Charity Wine Auction (DCWAF), supporting children’s charities in Northwest Florida

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River Oaks Shopping Center

AT A GLANCE

Houston, Texas

322,000 square foot center owned and managed by Weingarten Realty REIT

One of Houston’s most prestigious and historic specialty centers offering a wide variety of national retailers, upscale restaurants and unique local retailers

Serves some of Houston’s most affluent neighborhoods

Key tenants: Kroger, White House | Black Market, , Ryde, Brasserie 19, J. McLaughlin, Hemline, River Oaks Theatre

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Platinum Tower

AT A GLANCE

Houston, Texas

Founded in 1954

Commercial real estate firm offering a spectrum of services including property and facility management, leasing, marketing, development, investment sale, construction management and engineering

Strategic presence in 30 markets serving over 20,000 tenants every day

Lease and manage over 190 million square feet

Total portfolio value of over $35 billion

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Promenade at Coconut Creek

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Developed in 2008 and acquired by Hill Partners, Inc. in 2016 when it became a LEED pre-certified development

23-acre open-air shopping center with over 45 brand name stores, local boutiques and restaurants

250,000 total SF encompassing retail, restaurant and class-A office space

Serves 742,000 people within a 5-mile radius

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New Market Properties

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Atlanta, Georgia

Owns and operates 36 grocery-anchored shopping centers across seven states in the Southeast

Wholly-owned indirect subsidiary of Preferred Apartment Communities, Inc. (NYSE: APTS)

Target centers that have market dominant grocery anchors that maintain a #1 or #2 market share in that particular market

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Milagros Jewelry

AT A GLANCE

Chicago, Illinois

Non-profit company that works on behalf of Casa Hogar, a home for 120 abused, abandoned and indigent girls, ages 3-21 years, in Jalapa, Guatemala

Gracia Entrepreneur Training Program (G.E.T.) provides opportunities and resources needed to actualize economic empowerment, self-confidence, business skills, relationship and communication expertise to create a permanent shift in the way the girls of Casa Hogar think about each other and their future

Milagros is the product arm of G.E.T. where the girls earn income through one-of-a-kind jewelry sales made of 99.9% pure silver and precious stones handcrafted and sold by the girls themselves

Partner since 2017

Hill Partners

AT A GLANCE

Coconut Creek, Florida

Developed in 2008 and acquired by Hill Partners, Inc. in 2016 when it became a LEED pre-certified development

23-acre open-air shopping center with over 45 brand name stores, local boutiques and restaurants

250,000 total SF encompassing retail, restaurant and class-A office space

Serves 742,000 people within a 5-mile radius

Partner since 2016

Harbour Island

AT A GLANCE

Tampa, Florida

21-story contemporary luxury high-rise multifamily building managed by Gables Residential

Studio, 1 and 2 bedroom apartment homes and townhomes featuring granite countertops, stainless appliances, keyless entry and more

Best-in-class amenities top-notch security, outdoor amenity deck with bocci court and infinity edge pool, fitness center, spa and treatment rooms, and more

Partner since 2014

Geyer Morris

AT A GLANCE

Atlanta, Georgia

Privately-held commercial real estate development firm

Developed over 10 million square feet of commercial real estate across 8 states

Currently have over 2.5 million square feet in development pipeline

Partner since 2016

Genesis Industrial Group

AT A GLANCE

Manhattan, New York

Privately held energy and infrastructure company with offices in New York, Houston, Texas and Portland, Maine

Family energy business comprised of wealth development knowledge and experience in the energy sector with an investment committee that affords the ability to move quickly

Operated, invested and advised on the acquisition of over $1.5B worth of energy, infrastructure and wastewater assets

Partner since 2017

Gables Cherry Creek

AT A GLANCE

Tampa, Florida

21-story contemporary luxury high-rise multifamily building managed by Gables Residential

Studio, 1 and 2 bedroom apartment homes and townhomes featuring granite countertops, stainless appliances, keyless entry and more

Best-in-class amenities top-notch security, outdoor amenity deck with bocci court and infinity edge pool, fitness center, spa and treatment rooms, and more

Partner since 2014

Coastal Culture

AT A GLANCE

Miramar Beach, Florida

Owned by Howard Group

$500 million lifestyle Town Center

650,000 square feet of existing specialty retail and signature restaurants, 170,000 square feet of existing Class-A office space, 625 existing and planned full and select service hotel rooms and suites, 500 planned luxury residential units

Flagship Tenants: Publix, Anthropologie, Pottery Barn, Kinnucan’s, Emeril’s Coastal Italian, New Vision Boulevard 10 Theatre

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Avison Young Client Grid

AT A GLANCE

Toronto, Canada

Founded in 1978

Fastest-growing commercial real estate services firm in the world comprised of 2,200 real estate professionals in 77 offices

Provide value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties

Partner since 2016

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