Managing the modern 24/7 mixed-use metropolis

Thousands of visitors flock daily to our city’s largest and most dynamic mixed-use developments. But keeping these properties optimized for efficiency and value creation is a 24/7 undertaking.

At 3 a.m. at Plaza Coral Gables in Miami, office tenants that work on site have yet to begin their daily commutes. Most residents living in the multifamily properties are still soundly asleep in bed. Shoppers, diners and visitors are still dreaming of their future purchases or the next delicious meal they will enjoy at the property. But behind the scenes, a mixed-use property management team is taking care of every detail around the clock, ensuring that these unique developments are as vibrant as the communities they serve.

Mixed-use destinations like Plaza Coral Gables and the $4 billion OC Vibe project in Anaheim have been exploding in popularity the last several years, the result of shifting generational preferences and economic forces. Lifestyle Markets, where lifestyle-oriented, mixed-use developments join to create even larger entertainment districts or clusters, are meeting the heightened demand for quality experiences and amenitization.

But to succeed, these complex assets with multiple property types must offer a vibrant, 24-hour, 365-day ecosystem, with strategic operations and consistent experience around every corner. 

When owners bring in strategic property management and placemaking partners, large mixed-use developments can be powerful tools for both capturing demand and reducing investor risk, because they help balance different asset classes and create synergies that wouldn’t exist in a standalone project.

A thriving, mixed-use ecosystem taps into the unique benefits of the property types—and the experiences they can offer a consumer during different times and days— to drive constant traffic, activity and crossover revenue—around the clock.

• Office – Drives weekday foot traffic and has spillover benefits for dining and hotels
• Housing – Provides consistent daytime population after hours and on weekends
• Retail – Drives weekday foot traffic and has spillover benefits for dining and hotels
• Hotels – Introduces out-of-town-demand and accommodates larger populations for events
• Entertainment – Drives higher levels of peak activation; extends nighttime/weekend activity levels
• Green space / public realm – Generates identity and connectivity, improves dwell time

 But the primary challenge lies in seamlessly integrating all components across different property types. In lifestyle developments, every day brings unique operational demands. One morning might feature a special event requiring customized parking arrangements, while another could involve managing media during a sporting event. New construction phases may present safety concerns or tenant disruptions that require careful coordination. Through daily planning sessions, management teams proactively address these variables across property types to ensure residents, visitors, and tenants consistently enjoy an exceptional experience. 

“It’s important that the entire team, across all asset classes, starts the day with a consistent goal and set of information, and then works together to problem solve,” said Sean McNamara, Managing Director of The Mixx, JLL’s dedicated mixed-use property management team. “For a mixed-use property to deliver a cohesive, seamless experience, no single building can be managed in its own silo.” In the perfect setting, the property management team brings people and spaces together in harmony.

A significant benefit of developing lifestyle ecosystems is faster lease-up and higher stabilization rates. According to JLL Research, offices in Lifestyle Markets see higher preleasing, delivering 76% leased compared to 70% for new offices in other environments; reach 90% leased twice as quickly as typical office development; and stabilize at nearly 5% higher occupancy levels overall.

One of the most compelling benefits of living or working within a large mixed-use development is immediate access to amenities that make the day better and easier. Buildings equipped with high-quality amenities and conveniences tend to have higher resident satisfaction, retention rates and leasing activity. National Multifamily Housing Council research shows that more than 70% of renters consider health-related amenities “important” or “very important” when selecting a community. And if those amenities are easily accessible, it’s easy to fit them in before the workday starts.

At billion-dollar mixed-use developments, the stakes are high and every decision impacts long-term value creation. Property managers are faced with the extraordinary challenge of managing what is essentially a self-contained micro-city. The masterful blend of property operations, cutting-edge technology, sophisticated financial management, specialty leasing, strategic merchandising, and community placemaking is an around-the-clock task.

To maintain the authentic, cohesive experience that defines successful mixed-use properties, The Mixx ensures operational excellence and responsive service around the clock. 

Contact us to learn more about The Mixx and how JLL’s dedicated team keeps properties maximized for ROI around the clock.