5 Ways to Tell if a Mixed Use Facility Will Work on Your Campus
Mixed Use Facilities are gaining in popularity on campuses across the country, representing a blurring of the line between the edge of campus and the surrounding community. “Mixed Use” has a broad meaning, encompassing projects that include multiple campus and commercial uses such as office space, incubators, retail, restaurants and hotels. The projects are only limited by your creativity and, of course, the viability of the local market. Based on experience in procuring and developing successful Mixed Use Facilities, I recommend the following five steps to determine campus readiness for a given project: So, you will know that a Mixed Use Project will work on your campus if… 1. If You’ve Done Your Homework (A Local Market Analysis) Thinking that a mixed use project would be successful on your campus is much different than studying the market to understand if there is enough interest, density and money to make such a project feasible. Conducting an independent market analysis to understand the appetite for a given development type and what unmet demand might exist will give you a solid understanding as to whether your proposed project might be viable. The same holds true if you are presented with an unsolicited offer […]
