Mixed-use development: Difference between revisions

Revision as of 12:49, 26 March 2024

Revision as of 12:50, 26 March 2024

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== Drawbacks ==

===Equity===

[[File:Vessel in Hudson Yards, 2021-10-02.jpg|thumb|"The[[Vessel (structure)|Vessel]]", -a Touristtourist attraction featuring interconnected staircases with viewing ledges in the mixed-use neighborhood of [[Hudson Yards (development)|Hudson Yards]], NYNew York.]]

Due to the speculative nature of large scale real estate developments, mega-mixed-use projects often fall short on meeting equity and affordability goals. High-end residential, upscale retail, and [[Class A Office Space|Class A office spaces]] appealing to high-profile tenants are often prioritized due to their speculative potential.<ref name=":1" /> There is also a trend towards making residential spaces in mixed-use developments to be condominiums, rather than rental spaces. A study done by the [[Journal of the American Planning Association]] found that a focus on homeownership predominantly excludes individuals working in public services, trades, cultural, sales and service, and manufacturing occupations from living in amenity-rich city centers.<ref name=":6" /> Despite incentives like density bonuses, municipalities and developers rarely put a significant focus on affordable housing provisions in these plans.<ref name=":6" />