The number of apartments in live-work-play buildings has quadrupled over the last decade, led by Manhattan, home to one-fifth of the total units in US mixed-use buildings.
A RentCafe analysis of Yardi Matrix data reveals that 43,700 apartments in mixed-use buildings were added to the market in 2021 compared to 10,000 a decade prior. Construction deliveries peaked in 2020, with 49,100 such apartments coming online.
And "the growth of live-work-play is even more impressive when looking beyond the past decade," RentCafe's Andrea Neculae writes. "In 2011 and earlier, mixed-use was barely existent, making up a mere 2% of overall projects with a total of 225,100 apartments built up to 2011. However, after leaping to 6% in 2012, that share continued its spectacular rise in popularity, representing more than 10% of apartments today."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
