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Tom Acitelli reports on the potential of the coronavirus pandemic to shift the market demand for mixed-use developments in U.S. cities:
Mixed-use projects have been a hallmark of the country’s urban renaissance over the past couple of decades. They are often thriving complexes built with an ecosystem of residences, offices, plazas, hotels, shops and restaurants. Developers like them for the scope, and business owners like them for the round-the-clock density of people.
But the coronavirus threatens to upend the allure of retail and restaurants in these developments. Safety concerns and a changing patchwork of state and local virus-related regulations have led developers to rethink the layouts and designs of such areas. Ideas coming to the fore could be around for years, or they could start to fade away at the first sign of a coronavirus vaccine.
Acitelli surveys developments and designers for insight into business models and design ideas are being modified in reaction to the ongoing and expected effects of the pandemic.