The concept of mixed use development has been around for quite some time and the idea of living and working in a single property is the defining essence of a mixed use development.
In this piece, we will take a dive into what mixed development really is as well how it has eased its way into neighbourhoods in Nigeria, Africa and the rest of the world. To achieve this, we will take a peek at 10 interesting things you should know about mixed use development in Nigeria.
1. What is Mixed Use Development?
Mixed use development refers to a type of urban development that combines residential, commercial, cultural, institutional and entertainment uses; especially where those functions are physically and functionally integrated in a way that provides pedestrian connections.
2. What Mixed Use Development is Not
A mixed use development goes beyond a multi-storey development that combines commercial use with residential use on different floors of the building. According to experts, a mixed use development is one that provides the following:
- Three or more significant revenue-producing uses (such as retail/entertainment, office, residential, hotel, and/or civic/cultural/recreation)
- Fosters integration, density, and compatibility of land uses
- Creates a walkable community with uninterrupted pedestrian connections
3. It Provides a Broader Mix of Property Development
Mixed use developments provide a broader mix of property development in such a way that it includes residential space, commercial space, entertainment space, retail space as well as space for hospitality.
4. It Kills Several Birds With One Stone
One of the most interesting things about mixed use development is that it provides convenience, comfort and security all at once in one location.
Paul Onwuanibe, Landmark Group Africa Chief Executive Officer once submitted that the government is better equipped to provide safety of lives and properties. He went on to explain that this is why the Landmark Village in Lagos is now the fastest growing business and lifestyle destination on the West Africa coastline and stands tall as a strong testimony to the mixed-use scheme.
5. What Does a Mixed Use Development in Nigeria Look Like?
The Landmark Village in Lagos, Nigeria is a good example of what a mixed use development should look like. It is a state-of-the-art development on a 38,000m² site along the Atlantic Ocean waterfront in Victoria Island, Lagos.
The project, when completed, is expected to feature 5 individual 9-storey towers and was conceived to embody Landmark’s ‘Live.Work.Play.’ concept. The project is designed to be the first Lagos equivalent of The Rockefeller Centre in New York, Canary Wharf in London, Melrose Arch in Johannesburg and Victoria & Alfred Waterfront in Cape Town.
6. What Are the Features of a Mixed Use Development in Nigeria?
There are different standards used across the globe and they vary mostly on the strength of individual dynamics of each country’s real estate industry. Using the Landmark Village as a case study, it is designed to have the following features:
- A 250-room 4-5 star hotel
- A helipad with on-demand airport shuttles
- A state-of-the-art convention centre
- 2 grade A office towers
- Executive and convenience retail outlets
- 2 executive residential apartment blocks
- Extensive leisure and recreational facilities
- Internationally branded restaurant chains
- A prominent supermarket chain and
- Over 1000 parking spaces
7. What Makes Mixed Use Development Attractive?
By design, a mixed use development is a pedestrian-oriented place, which fuses compatible land uses, public amenities and utilities together in such a way that the variety of uses allows for people to live, work, play and shop in one place. This then becomes a destination and point of attraction for people from other neighbourhoods.
8. Why is Mixed Use Development Becoming Popular in Africa?
Several countries across Africa and are becoming drawn to mixed use development for different reasons. Population growth, productivity and increased consumer spending and a growing middle class who require innovative real estate solutions are some of the factors experts have identified.
9. It Aids Infrastructural Development
In some countries, the authorities place obligations on developers of mixed use development to provide some form of infrastructural works to support their developments. Such support usually come in the form of upgrading existing amenities.
10. It Creates Pedestrian Friendly Environments
Mixed use development has a reputation for creating pedestrian-friendly environments. By default, the development translates into short distances between living, working, commercial and recreational destinations.
Final Thoughts
There a several factors that make mixed use development very attractive. One of such factors is the fact that it drives infrastructure implementation and upgrades in the urban development of cities across the world.
Everyone benefits from mixed use development – This includes residential and commercial developers, leasing agents as well as tenants. Companies appreciate nearby living options for their employees. Workers also enjoy the short commute to work, banks, restaurants, health clubs and outdoor recreation.
