Five reasons to live in a ‘mixed-use’ community
February 20, 2019
The real estate industry has its share of jargon. One such term is ‘mixed-use’.Consumers may be familiar with this term, but what does it actually mean?
Well, mixed-use is a real estate development that combines different types of properties with different types of uses.At times, these uses are in a common structure such as a tower; other times they are encompassed in a master-plan or development comprised of integrated structures.
The most common mixed-use developments feature residential homes along with office and/or character and convenience retail. In select cases, a hotel or some form of public amenity may be incorporated into the concept.
Given the growing densification throughout Metro Vancouver, this form of development is becoming increasingly mainstream. Here are five reasons a home in a community of this nature may be right for you:
1. Convenience
What is better than being steps away from your day-to-day needs? Simply put, living within easy walking distance to shops and services is convenient. Save time and money by walking instead of driving to do errands.
2. Sense of community
One of the best parts about living in a mixed-use project is the sense of community that can be found there. These communities tend to be active and social. Shops, restaurants, pubs and coffee shops become an extension of your own living space.
3. Diversity
Many of these communities have intergenerational appeal. Both smaller suites for first-time homebuyers and grander, one-level living for retirees are offered. This helps to create diversity and vibrancy. Having a variety of residents is also appealing to business owners, and many offer resident owners perks such discounts or special incentives.
4. Health and safety
Are you more likely to go to your gym if it was down the stairs from you? Also, if at the end of the day you haven’t hit your 10,000 steps, you can do a quick and interesting stroll around the community. You can also skip the takeout and opt to pop down to get groceries and cook your own healthy alternative without having to get back into the car after a long day. In addition, a number of these communities offer medical and wellness services.
5. Sustainability
Eliminate your reliance on driving and enjoy a pedestrian-oriented lifestyle. More often than not, these mixed-use communities have higher walk scores. In addition, they tend to be in transit-oriented nodes. Plus, living in a mixed-use community takes up less land and is more efficient.
If you think this type of living might be right for you, visit fifthave.ca for details on our feature mixed-use communities.
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About Scott Brown
For more of Scott Brown's ongoing insights about the housing market, check out fifthave.ca.