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Retail In Mixed-Use Projects
Before the Great Recession, mixed-use projects involving varying combinations of retail, residential, hotel, office, healthcare and other commercial uses were gaining popularity, both in urban settings and in suburban “city center” locations. Now, as we see signs of renewed development activity, mixed-use projects appear to be among those property types enjoying a resurgence of popularity. This article explores a number of issues that large retailers should consider when anticipating becoming part of a mixed-use project.
A mixed-use project will, by definition, encompass multiple, historically incompatible (or at least inconsistent) uses, often in a congested setting. How may the parties best address the interests of a major retailer in a setting unlike a typical stand-alone location, strip center, life-style center or mall?
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