We Need to Go Beyond "Mixed-Use": A Development Framework for the Economics of Integrating Uses for Place-Making
Unique cultural-social-commercial experiences can be found around the world (e.g., Atlanta’s Ponce City Market, Chelsea Market in NYC, Quebec City’s Public Market, or Monastiraki Square in Athens, Greece), of course. You can also explore your own neighborhood or city where the market is evolving well beyond the idea of a “mixed-use” development and toward the authentic integration of uses that make a place an experience.
For example, the warehouse district of the late 1800’s that is morphing into a place for entrepreneurs and start-up businesses with new apartments, condominiums, and a vibrant local food scene. The beef-packing plant of the early 1900’s that is now a food hall surrounded by residential, hospitality, and commercial properties integrated in a walkable streetscape. Or the shopping mall from the 1960’s or 1990’s that once served as the center of department store shopping and is changing into a new style of urban village in the suburbs.
This is part of a process that can be thought of as place-making — a synergy involving how people live, work, shop, socialize, and visit. That process is part of a natural economic evolution that runs parallel to every new generation.
Here is a development framework to move beyond “mixed-use” to the economics of integrating uses for place-making in markets of any size across the globe.
Vision: Begin with story telling about the meaningful ways that people think, feel, and create enduring connections.
Model the Economics of Place: A more recognizable term is “highest-and-best-uses” feasibility analysis. This addresses issues such as demand-and-supply market trends, economic viability, uses and product types, land values, rents and price points, sales forecasts, costs, and market timing for the residential, hospitality, restaurants, entertainment venues, retail, public realm, and other potential features.
Conceptual Master Development and Site Plans: This flows from the economic modeling and include design charrettes. That is, intensive planning workshops or sessions involving collaboration among designers, architects, local communities of interest, city planners, and civic-social leaders. This process delivers a conceptual master development and site plans that imagine how the uses are integrated in such a way as to create a place.
Strategic and Executable Plan: The old proverb applies here - “A vision without a plan is just a dream. A plan without a vision is just drudgery. But a vision with a plan can change the world.” Make sure the plan is flexible and open. Does not need to be perfect. Just have one and use it.
We are in the midst of a renaissance of sorts. Residential and commercial real estate owners, developers, and professionals in the U.S. and around the world are adopting more holistic, place-making approaches that integrate uses for people to create authentic connections and memories. To live well and lead a vibrant lifestyle.
Would love to hear your thoughts on this framework. More importantly, please share what you and your colleagues are working on.
