Imagine living in a building or complex where you have a convenience store, laundromat, gym, other desirable housing amenities, and properties as part of the development. No need to travel long distances to access their services. What you just imagined is an example of a Mixed-use property, a type of real estate

development which combines residential, commercial, cultural, institutional or industrial uses; in a manner where those functions are physically and functionally integrated. The different sections of the mixed-use property form one building or complex of buildings which are accessible by foot, so there’s no need to consider transport costs (unless you want to convey heavy items from point to point). Mixed-use properties come in many forms, from a single building, a city block, or entire neighbourhoods.

Traditionally, human settlements have developed in mixed-use patterns. However, some governmental zoning regulations were introduced to separate different functions, such as manufacturing and heavy industrial activity areas from residential areas. Nonetheless, the benefits of this style are undeniable, and so, it’s still very much encouraged. These benefits include:

• Variety: Mixed-use properties provide greater housing variety and density. The citizens have a choice of the type of living or working quarters to use: traditional compound houses, stand-alone houses (self-contained and self-compound), apartment complexes, etc. A mixed-use property combines aspects of all the above and this creates a harmonious balance that is just beautiful to behold.

• Convenience: The reduced distances between home; the workplace; retail businesses, shops or supermarkets; and other destinations cuts down on time spent in transit between the places residents and users of mixed-use properties find indispensable in their day-to-day life.

• Economy of space: A mixed-use property allows for more economic and very efficient use of land. A more compact development allows for optimum use of land. You can fit in just about every type of real estate in here. If you are planning on renting out residential spaces, this type of development is sure to bring you a fine sum at the end of each month. Not only will you be making money from the business owners and residential tenants, you’d raise the value of the entire property with the services provided by the business owners to the residents of the mixed-use property and the entire community at large.

• Community: Living in a mixed-use property complex builds a strong sense of neighbourhood among the tenants and shopkeepers/business owners. There are stronger bonds between tenants and business owners on the one hand, as the tenants, by virtue of their physical proximity, are likely to be loyal customers; and between neighbour-tenants on the other hand, who will find it easier to build strong friendships and a stronger neighbourhood character overall.

• Boost Entrepreneurship and local economy: A mixed-use development goes a long way to

  help boost the economic development of the neighbourhood and the city at large. Lots of commerce is encouraged in mixed-use developments, not only between landlord and tenants, but as part of the activities of the commercial parts of the development. Entrepreneurship is also greatly encouraged as space is readily available for the more enterprising members of the community, and being entrepreneurs, they will rise to the challenge and build great businesses from within the development.

There are currently mixed-use properties under construction in parts of the country, notably, Accra. There’s the nearly complete mixed-use property, The Pearl in City, located in Cantonments. There are other properties such as The Rhombus, scheduled to be built in Kanda; Adinkra Heights and many more. As more and more of such properties spring up, our local developers stand to not only make a mark on the professional scene but also make some good money from being the first to specialize in this type of real estate development.