Why the stakes are high in mixed-use property management

A single-source solution can usher a mixed-use development through its entire lifecycle, from site selection and land acquisition to construction project management to pre-leasing, marketing and branding. But it’s the day-today property management function that really brings the vision to life, as it’s no small feat to make the experience at a self-contained microcity feel consistent and authentic.

As mixed-use developments skew larger and become more complex in their amenity offerings, the likelihood of the different uses clashing is likely. Having one property management firm break down the asset class barriers and oversee all critical operations from finance and budgeting to client service experience, communication, technology and public event programming will help support the property’s brand essence, increase foot traffic and build tenant and resident loyalty. But first, an outdated property management model needs to evolve along with the demands of visitors asking for a more customized and hospitable experience.

The management of a mixed-use asset is so much more than a discussion of ROI. It’s about what delivers the ROI—anticipating community needs, providing impeccable customer service and elevating a place into a place to be. Expectations will only continue to rise, but a property management solution that allows asset classes to seamlessly co-exist, backed by a scalable experience management program, will ensure that these massive assets are positioned for growth and longevity. Well-managed mixed-use developments represent a win-win for both investors and cities, creating more housing, community connection, operating income, retail and tax revenue.

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