Mixed-Use Developments Require Coordination, Collaboration
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| Assembly Square in Somerville is one of Federal Realty Investment Trust’s latest mixed-use projects in the predevelopment stages. A new Orange Line T station will be created, and new public parkland along the Mystic River also will enhance and improve the riverfront. |
By Sandi Wolchansky
Developing mixed-use properties is one of the biggest trends in real estate, but developers looking to build these types of projects need to understand that creating true mixed-use is more complicated than simply stacking office space or residential units over retail stores. Rockville, Md.-based Federal Realty Investment Trust, an equity real estate investment trust, began developing mixed-use projects in the late 1990s after recognizing a strong move back to the urban core was taking hold in the country as empty-nesters no longer needed large homes and young professionals were seeking social interaction.
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