Quote:
Originally Posted by DNR
More often than not, the odds still seem to be stacked against mixed uses in a single tower. Yes, I know, there are a few exceptions, but generally speaking, it seems problematic.
It doesn't help that land must still be considered cheap in Midtown.
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I think it has to do with marketability of the project when development is complete. I believe generally real estate companies specialize in either commercial or residential properties- like Post properties, toll brothers, cousins, etc. if a developer wants to market and sell the project when it is complete and occupied (which very often occurs), it is much easier to sell with a single use as companies generally specialize in one property type. Also, the floor plate are generally different in residential and commercial, where residential favors window area and buildings tend to be thinner and commercial properties, in general, are wider and favor floor space.
Anyway, I like mixed use, but I’m really happy that developers and city planners are fully embracing putting office and residential in the same neighborhoods, if not side by side. This was pretty rare in the 70’s and 80’s