Mixed Use Development
Mixed use development is today the preferred form of development by every respected planning body in the U.S. So why aren't we seeing it done more often?
Mixed Use Definition - What is mixed use development? Not all people agree on what meets the definition of mixed use. By our standard, mixed use means the thoughtful integration of different property uses (residential, office, retail, restaurant, parks, entertainment, hotel) so that each use which makes up the whole of the development is relatively easy for pedestrians to access in their desire to move from one use to another. It's about delivering on that other highly desirable characteristic, walkability. In other words, mixed use means more to us than a thoughtless patchwork of different assembled uses even if they are all planned within one development.
Doing What's Right - Given all its benefits, there's a reason why we don't see good mixed use development being done more often - it's difficult. It's far easier for specialized developers to build what they know and only what they know whether their specialty is multi-family, single family, neighborhood grocery anchored strip centers, office and so on. They have a simple existing formula. The formula is proven. And, they can plop it down wherever they can convince the local municipal government to allow. This kind of development involves doing what's easiest, not necessarily what's best or what's right.
No "One Size Fits All" Mentality - Mixed use development, on the other hand, requires thoughtful development solutions that are customized to address local needs and desires. It is a far cry from the "one size fits all" mentality of most specialized developers. And mixed use development poses another potential hurdle. It is significantly more difficult to finance. Just as developers specialize in multi -family, office or retail, so do lenders and, if there is one thing lenders like, it's replication - developments that fit into the existing boxes.
The "Gardens Advantage" - Our Gardens concept may not neatly fit into any of the existing boxes at present, but we think that in this lies our ultimate advantage - the fact that we've built a development model that is far more responsive to what municipalities and the general public want today.
While other developers may seek to exploit those places that will accommodate and accept their specialized formula development, we choose to stubbornly adhere to a higher standard - one that honestly admits to the fact that there's no better development formula than to fulfill what it is that people want in a way that is responsible to the community and sensitive to the local environment.
While other developers may seek to exploit those places that will accommodate and accept their specialized formula development, we choose to stubbornly adhere to a higher standard - one that honestly admits to the fact that there's no better development formula than to fulfill what it is that people want in a way that is responsible to the community and sensitive to the local environment.