Angel Bernal Robles is a seasoned professional with a robust background in both engineering and business within multiple sectors of the real estate industry. In the following article, Angel Bernal Robles discusses the economic impact of mixed-use real estate.
The past decade has seen mixed-use developments gain popularity as people’s preferences and needs change. Modern-day humans prioritize flexibility and fluidity in both personal and professional lives. Thus, they demand spaces and properties that keep pace, boasting the ability to change as neighborhoods above.
With that in mind, it’s no wonder mixed-use establishments have become go-to projects for developers and urban planners. Such developments have social, real estate, environment, and, of course, economic benefits. From giving everybody the housing they need to reducing transportation costs to boosting business investments, mixed-use properties are set to retain their preferred project status as time goes on due to these astounding advantages.
Angel Bernal Robles on Improved Business Investments
By combining cultural, commercial, and recreational buildings with residential living spaces, mixed-use developments contribute to the city’s economic growth by attracting business investments.
Angel Bernal Robles notes that interestingly, investors are more likely to invest in these projects than others, thanks to the amplified foot traffic in these developments. Businesses benefit from this heightened foot traffic, becoming more profitable and successful than those in single-use establishments.
Investments in mixed-use environments provide diversified options and incredibly versatile spaces, which not only benefits the area’s economic climate, but also improves the space’s convenience and offers new innovation chances in retail, services, leisure, and entertainment.
Reduced Traffic and Transportation Costs
One of the biggest economic impacts crafted by mixed-use real estate is the decrease in transport costs — everything is perfectly positioned around homes, eliminating the need to drive or take public transportation.
Angel Bernal Robles says that successful mixed-use properties promote cycling and walking, boasting some of the highest walkability rates and increasing the area’s friendliness to bicycles (e.g., with cycle lanes, ample places to safely store bikes, and bike rentals).
The benefits of reducing traffic and associated costs are threefold. They bring new, sustainability, which helps the environment. They increase the likelihood of people walking or cycling, enhancing their quality of life. They ensure governments spend less on traffic measures and implementing enough parking garages, increasing its economic effect.
Angel Bernal Robles says that these economic advantages have been verified in a Transport for London study. The research uncovered that pedestrians spend as much as 60% more than those who navigate through cities by car. So, urban areas have lot to gain from boosted walkability.
Housing for Everybody
Well-planned mixed-use projects have a variety of housing at varying price points to cater to families from all financial backgrounds. With this established, people with different incomes can reside in the same community, forging a healthier, happier population.
Angel Bernal Robles explains that it’s known that offering affordable housing for all allows people to concentrate less on just making ends meet and more on achieving economic stability, while experiencing that yearned-for sense of belonging.
On the surface, it may appear that mixed-income housing provisions only have social and financial impacts for the individuals using these abodes, but that’s far from the case. In reality, such people will spend more money on the entertainment and leisure establishments in the community, enhancing the city’s economic growth.
Angel Bernal Robles says that’s without mentioning the increasing desirability. Having both affordable and luxury homes in the same location attracts plenty of people, adding to the economy’s already terrific expansion.
Sustainable Neighborhoods
With comfortable pedestrian access to entertainment developments, parks, and restaurants, people will be out and about at all times of day or night — even after they’ve worked a nine-hour shift. This encouragement to dive into the community goes a long way to bettering productivity and the local economy.
Angel Bernal Robles says that furthermore, mixed-use developments are people centered. Thus, tourist numbers will increase as they realize they’ll have all their vacationing needs in one, perfectly accessible space. And when it comes to economic growth, nothing puts areas in the green like influxes of tourists.
Boosted Job Creation
The aforementioned increase in business investments has a profound positive affect on the job economy in the area. Naturally, the number of employment opportunities rises when new companies set up in the area, giving individuals multiple career paths to choose from and enhancing the cyclical characteristics of the city’s economy.
Angel Bernal Robles notes that urban planners and developers continue to adopt mixed-use design approaches in their visions to maintain these spectacular economic benefits for areas around the world.
