ORLANDO, FL, November 20th , 2017 – Orlando, the 25th largest Metropolitan Statistical Area (MSA) in the United States, with a projected growth rate of 10.7% for the next five years, is a prime urban environment for mixed-used development, according to Commonwealth Development.
Defined as “a type of urban development that blends residential, commercial, cultural, institutional, or industrial uses, where those functions are physically and functionally integrated, and that provides pedestrian connections”, mixed-use or “mix” development projects must possess a number of features, in order to be successful.
According to Commonwealth Development experts, the key components of every successful mixed-use development project are its architectural design, which ought to include retail site planning; its affordability, and walkability.
Speaking of the rise in mixed-use development projects in Orlando, Commonwealth Development’s media representative said “The fast rise of the median national home and rent price, and millennial homebuyers’ preference for residential properties located in areas with a community-like feel, are two of the main contributing factors that have led to the popularity of mixed-use development projects in the area. Additionally, the concept addresses the need for new housing options, in light of Orlando’s sky-rocketing population growth.”
He continued, “There are ten mixed-use development projects currently underway, in various areas of Orlando, while we predict that many more will be planned within the next decade. We advise both investors, as well as commercial redevelopers, to consider these projects’ value, and pounce on the opportunity to be among the first to participate in such efforts in the Orlando area.”
For more information on the subject, Commonwealth Development outlines all those mixed-use development project components that lead to these projects’ success, in a highly engaging and comprehensive article listed on the company’s website’s blog.
To learn more about Commonwealth Development, please visit: http://www.cwdfl.com/
Company Name: Commonwealth Development Land Trust
Contact Person: Tim H. Safransky
Address:3905 Tampa Road #2412 Oldsmar, FL 34677
Country: United States