Modern generations, or mildly said - younger people born from the 90's onward want to have it all in one place (living, working, playing and shoping. all of it). Haysha Deitsch, a real estate developer with a focus on mixed-use development projects says that over the years he has managed several projects and has been successful in meeting the demands of his clients . Located in some of New York City’s prime locations, his mixed-use projects include everything from hotels and offices to parks and shops, all on a few acres or within the same building. The compact, efficient land use of mixed-use developments provides residents with the opportunity for short commutes to work and convenience shopping.
Today’s consumers in Israel, as well as the United States, choose to spend more on their quality of life, over buying things. In the past few years, the whole concept of shopping has gone through some changes, shifting its focus from owning things to acknowledging new ideas. Online shopping and e-commerce redesigned consumer behaviors, which was eventually implicated in the development of residential and commercial real estate projects. As one of the key drivers of economic growth, consumerism made retailers rethink their real estate needs. Not so long ago, the idea of living in an urban environment and walkable communities wasn't really popular. In fact, only a decade ago, most people were against this idea, which is why they were choosing the suburbs over downtown.
In the long run, mixed-use developments have real value. Owners are especially appealed by sustainable and green efforts which can save them money and draw more renters. When it comes to choosing sustainable systems and materials, Haysha warns to be careful and ensure that the return on investment is worth it. Around these days we even see more and more developers bringing mixed-use facilities to suburban areas, proving that they can work outside of city centers. Regardless whether it is downtown or in a suburban area, the best way to evaluate a potential mixed-use project is by testing whether it is a good location for the commercial project.
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