If you’re searching for an apartment, you’ve likely come across many exciting options and styles. One option that creates a lot of buzz is mixed-use developments or multi-use properties. These properties can be found in a variety of styles. Mixed-use developments can be anything from high-rises, duplexes, lofts, and even neighborhoods. With such a broad range of options you may be asking yourself: What is considered a mixed-use development, and what makes them beneficial to me, the renter?
What is a mixed-use development?
A mixed-use development is a property that combines residential and commercial space. Traditionally, a mixed-use property has places like restaurants, bars, or cafes on the ground floor and apartments on the second floor. Think of the brick buildings in the boroughs of New York City with bodegas and coffee shops at the street level. That’s a mixed-use development! But they can offer more than just cozy coffee shops and a few apartments.
Mixed-use properties are becoming more and more popular across the United States, and these developments can be in any layout and include way more than eateries underneath. Offices, banks, train stations, parks, and more can be found in multi-use buildings. Recently many mixed-use developments have transformed their retail space into health care spaces and offices, and mixed-use developments encompass more than just standalone buildings. While they can be standalone buildings, mixed-use properties can also be neighborhoods, duplexes, and even homes.
Benefits of Living in a Mixed-use Development
In a world where cars and traveling long distances is no longer appealing, there is a reason why mixed-use properties have become so popular. The greatest benefit of mixed-use is walkability. Residents are able to walk a short distance to get everything they need, and because you tend to spend your time in walkable distances, multi-use creates a strong sense of community. When done correctly, they help support local businesses, promote walking and biking, and allow people to appreciate and support their community.
Since the big appeal to these developments is walkability, they are generally close to other great amenities in town like schools, parks, libraries, and other local destinations. The main benefit of living in a multi-use development is the ability to forgo car travel and walk on foot or travel via public transportation.
Another major benefit of renting in a mixed-use development is great property management. Often, these buildings have better property management because of the size and needs of the community. These property managers are essentially running two businesses. As a result, the property management is usually very professional and on top of everyone’s needs because they have a lot more riding on the functionality of the building then standalone residential places do.
What to Look for in a Mixed-use Property
Now that we know how beneficial mixed-use buildings are, which one is right for you? You’ll want to think about what is important to you to answer this question.
First, make sure you’re looking in the right place. While these properties are becoming more popular, there’s a higher concentration of them in big cities, so you might have more options depending on where you’re renting. Next, think about what rental style you prefer. Would you prefer to live in a multi-use building, or do you like the feel of a trendy mixed-use neighborhood? A high-rise multi-use building and a mixed-use neighborhood featuring lofts are both incredibly convenient but will have different community vibes, so make sure you know which you prefer. Spend time at the retail spots in the building or explore the neighborhood to get a feel for the community.
Once you’ve narrowed down location and style, you’ll need to consider additional factors. Think about your desired noise level, whether you need to be near public transportation, where your college or job is, etc. For example, if you like quiet nights, a property above somewhere with a nightlife scene might not be the place for you. If you want to ditch your car or drive as little as possible, a place over a train station or grocer might be the perfect spot. Depending on where you work, your office could be in a multi-use building, so if you’re moving to a new city for a job, ask your employers or coworkers.
You’ll also want to think outside of your immediate area and look around the neighborhood to see what else is walkable. Your ideal building could be in proximity to retail spots, local parks, your university, your child’s school, or whatever else you deem important.
How to Find a Mixed-use Development
Once you have your desired styles and amenities in mind, it’s time to start the search. Whether you’re moving to a new city or staying in town, head to Apartments.com. Click “more” and type “mixed-use” or “multi-use” in the keywords section. From there you should have a variety of rentals to look through. Good luck and happy renting!
