In the June 25 edition of SiteTalk, editor Katherine Field asked readers to comment about the viability of mixed-use projects during the recession, and whether mixed-use might have a better shot at success vs. other development formats. Among the responses:
“Mixed-use seems to be it,” said Brian Buralli with Cullinan Properties. “We do get some interest from retail, particularly local or regional. The office side is okay, medical is a strength, and residential is pretty good. We are getting pretty positive response with both St. Charles (The Streets of St. Charles in St. Louis) and East Peoria (East Peoria/Downtown 2010 in East Peoria, Ill.). So, a number of good things are happening despite the economy, but we’ve had a lot of hard work to get there.”
But another reader didn’t rank mixed-use so positively.
“Not good,” he e-mailed. “All components have to be successful at the same time for a project to succeed. Want to bet on that happening?”
The next issue of Chain Store Age -- August/September 2009, mailing at the end of August -- will cover mixed-use in greater detail via the “Mixed-Use Development special real estate supplement.” The supplement will chronicle the emergence of the mixed-use as a dominant format despite the downturn, and profile successful and up-and-coming mixed- and multi-use projects.