SAN FRANCISCO—Developing a mixed-use property makes difficultsites feasible from a financial perspective. “It makes it moreattractive.” That is according to David Pierce,SVP of development at Inland American, during amixed-use panel at PCBC. He pointed out thatretail, even if a minor component at the property can bring 30% ofthe income on the site making it worthwhile for a higher landcost.
The panel, titled “Mixed-Use Means More Money,” was moderated byMike Kennedy, an SVP at AvisonYoung. When he asked panelists another benefit to havingmixed uses at multifamily properties, HalFairbanks, VP of acquisition at HRIProperties, said that having a mix of uses can also helpin community support for the project to actually get done. “Thereare a lot of market intangibles,” he said.
“Tenants will pay more for unique properties,” said Fairbanks.“The mixed use helps us optimize the site.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
