Redburn Development Partners are reimagining real estate and urban land use with socially-responsible developments that promote healthier and greener communities. Even the property management approach taken by the Redburn Property Services team is all about utilizing smart systems and time-saving procedures with proactive preventative maintenance programs.
According to construction analytics, 60% of all new construction was used for some version of mixed-use spaces, including single-family and multifamily residential, combination retail/medical/hotel, or residential and office spaces.
As property development specialists, Redburn has recognized new trends in mixed-use, retail/living spaces that promote business integration with a communal living style. Here are more trends the Redburn Development Partners expect to continue in 2023 and beyond.
Innovative environments with co-working spaces
Flexible living and working spaces will continue to dominate the mixed-use commercial real estate arena as more and more people opt to forgo commuting to work. At the same time, working from home can be a challenge for many people. Having a separate space for living and a separate space for working is a great way to optimize a traditional office building.
View our developed and/or owned properties here that include mixed-used retail, hospitality, and medical office projects.
According to CNBC, a record number of old office buildings have been turned into residential apartments. And, as remote work continues to take off, office building owners will continue to opt for the conversion of former office space into converted apartments.
Retail spaces that promote residential experiences
Companies like Whole Foods, Starbucks, and Apple are aggressively seeking out spaces that can offer residential communities a unique experience in shopping and/or dining. These awe-inspired mixed-use retail spaces promote both an artisan and organic lifestyle mix.
With multi-sensory retail, it’s all about the Sights, Sounds, Smells, Touch and Tastes that can elicit anything from self-discovery to serenity, to romance. These living spaces also pair well with a younger generation that can be health-conscious and still desire an upscale living experience. Multi-sensory retail partners well with mixed-use living and co-working spaces integrated with a contemporary architectural style.
Smaller living sizes and larger common areas.
Mixed-used residential, retail, and office spaces must be integrated, not separated. Tenants seem to be willing to lose some square footage from their living spaces in return for larger common areas such as green spaces, water features, sun decks, atrium dining, plaza areas, walking or biking trails, and courtyards.
In this type of semi-communal living, tenants prioritize a social-over-everything lifestyle. One of the best ways to drive tenants to a new apartment complex is to promote a social living experience, not a separate living lifestyle. When residential complexes partner with a few select business models like craft breweries, premium coffee shops, and trending fitness workouts – you find the ability to get higher rents and more tenant loyalty.
Redburn Development Partners specializes in amenity-soaked, residential and commercial leased spaces that often feature All-In Living with on-site electricity-generating green energy systems, high-speed fiber optic internet, and much more. We also provide commercial real estate consulting services, energy system design and installations.
Redburn Development invites you to view our developed and owned mixed-use, hospitality, and medical office projects here.