Multi-Use panel at PCBC Mixed-use projects are fast becoming the darling of the industry, panelists indicated.

SAN DIEGO—In the past four or five years, mixed-use projects have become part of our culture, and we are embracing this asset class more as an extension of everyone’s life, said speakers at PCBC here last week. Panelists on the session “The Magic Cocktail of Multifamily Multi-Use” said the desire for mixed-use projects goes along with the urbanization, walkability trend that has swept the nation.

“Creating lifestyle destinations 24/7 that people never have to leave” is how Kim Hoeksema, XVP development execution for Carmel Partners, described today’s mixed-use development. She added that, in addition to work and home, it’s important to have a “third place” in the project that’s an extension of people’s lives, such as a yoga place or restaurant. When you have the right amenities, people will buy the cheapest residence in order to be in the center and take advantage of those amenities.

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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