X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NANTUCKET, MA-Much like lifestyle centers that were the rage just a few years ago, mixed-use projects will continue to increase, but only if they provide proper returns, said developer John A. Kite at the Wachovia Securities 2007 Nantucket Equity Conference.

Communities looking for density on small available sites are pushing for multiple uses, according to Kite, the president and CEO of Indianapolis-based Kite Realty. Mixed-use has rapidly become important to the development company, which went public in August 2004, and has more than $500 million in projects in the pipeline. Much of its focus will be in the Southeast, particularly Florida and North Carolina.

“There is more risk because of the various product types,” Kite says. “But ultimately you’ll see more of it, because that’s what the cities want.” That can help with the most challenging part of the development process, getting entitlements in place, he says.

“The entitlement process is a tougher and tougher barrier to entry,” Kite observes. That can affect the returns, which are important to the format, he said, and could even affect its growth.

“If returns start to go down, we will see less of this,” Kite warns. “It’s very complicated.”

Kite owns 48 retail properties totaling 6.9-million sf. The firm is currently developing 11 assets, making up 1.7-million sf

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.