The Mixed-Use Development concept is to repurpose existing properties and incorporate residential and retail elements, concludes a recent article on the topic of the evolution of mixed-use developments. Another approach – one that is attracting a growing number of investors – is the development of a purpose-built site with hospitality at its heart that works in combination with a broad mix of living, working, retail and entertainment spaces. The modern mixed-use development is more than just a floor of retail with apartments above. It can be a blend of serviced apartments, hostels, sports and leisure venues, co-working spaces and even retirement living. “MUDs are spreading fast now,” says Marloes Knippenberg, CEO of global mixed-use operator Kerten Hospitality. “Real estate developers are often focused on the bricks and mortar and the speed of development. Now, people have become keener and smarter, so developers are ready to look outside their comfort zone.”
As the number of mixed-use developments (MUDs) and schemes across the UK and EMEA continues to rise, their combination of residential, retail, leisure and entertainment facilities – as well as co-working spaces and shared amenities – could become a mainstay of the hospitality sector. Jim Banks speaks to Russell Kett, chairman of HVS; Marloes Knippenberg, CEO of Kerten Hospitality; and Dexter Moren, founder of Dexter Moren Associates, about the rise of MUDs and their appeal in a post-Covid world.
Read the full article here: https://www.hmi-online.com/features/featuretheres-gold-in-the-mud-8631935/