MIXED USE DEVELOPMENT

Mixed Use Development



Mixed Use Development

Introduction

The study is relate to the mixed-use development that a property firm wishes to invest in the UK as there is a lot of scope in the area of the mixed-use development. The study focuses on the planning, benefits and barriers that the company may face while investing or developing its office in the UK. The Mixed-use projects include real estate developments with planned integration of some combination of retail, office, residential, hotel, recreation or other functions which help the country or the state in developing or molding the environment according to the international standards, in other words there is also a great chance to enhance the structure of the state. However, it is difficult for the investing firm to fulfill and mange the development as there are various requirements that the company has to meet.

Discussion

Mixed-use Development

Mixed-use projects encompass real estate developments with planned integration of some combination of retail, office, residential, hotel, recreation or other functions. A 2006 survey sponsored by four real estate development organizations found that more than 25 percent of members' business was already in mixed-use projects, with 35 percent saying that it accounted for more than half their business. Clearly, multiple-use projects are an important component of today's business environment. For developers, mixed-use development almost always emphasizes pedestrian-oriented designs. Combines elements of a live-work--play environment and maximizes space utilization. It often features such amenities as parks and other forms of open space, has significant architectural expression and reduces traffic congestion. Most architects, city planners and developers expect mixed-use projects to grow in importance in the next five years, primarily because cities are encouraging such development by helping private developers with planning and zoning decisions, incentive programs and, in some cases, assembling land. Rising urban land prices and many urbanites' growing desire to integrate home, work and play also play a key role. One major downside to mixed-use development is the extended time it may take to put all the pieces together and the greater financial risk of a phrased development of disparate project developments. (Carmona, 1997)

Obstacles to Mixed-use Development

Most often mentioned barriers or obstacles to the realization of a mixed-use development seems to be exaggerated, and there is no such barriers are generally not specific to mixed-use development, but the manner of surveillance routine development affects the entire development.

The difficulty of harmonizing the conditions of differential rent residential and commercial real estate one of the main reasons for the reluctance of institutional investors to integrate mixed use. It may also partly explain the tendency to separate the different uses into discrete elements of development together in a shared system, preferably integrated into the development itself. While the housing market has a strong preference for single use rules, because they generally offer higher performance, mixed-use projects submitted in response to policy planning, location and design considerations. These normally include a requirement for optimal return on plan to meet, but in this sense is a mixed use like ...