A Developer's Guide to Mixed-use Developments

Gain the tools needed to successfully plan and execute a modern mixed-use development.

Gain the tools needed to successfully plan and execute a modern mixed-use development. If one reads through any real estate trade journal it becomes apparent that traditional retail and office development is changing. Developers and their tenants share the desire to create projects that attract people on many levels, to relax in interesting open spaces, to dine, to exercise, to live, to work, and to shop. This is often referred to as place-making, and it often involves transforming a vacant property, or an existing single-focused property, into a vibrant community involving a mix of uses. Many of these projects center on reimagining how areas that already hold retail or office space can better serve the community. This was the case for one of the most significant and complex mixed-use redevelopment projects in New England, in which our speaker, John R. Pariseault, and his team at Hinckley Allen, successfully represented a developer. This project involved de-malling a traditional enclosed mall and constructing several new buildings to create a true live, work, play neighborhood comprised of office, retail, residential, and hotel uses. The team guided the developer throughout the process, which included due diligence analysis, negotiating and drafting retail leases with premier retail tenants, negotiating a sophisticated joint venture with an equity partner, securing construction financing, and creating a sophisticated condominium structure to allow the project's units to be separately owned and financed. Mixed-use projects present unique challenges that reverberate through all aspects of the development. This topic provides a step-by-step framework for developers, lenders, equity investors, real estate lawyers and other advisors to approach and structure mixed-use development and redevelopment projects in a way that anticipates issues and avoids costly pitfalls. You will gain insight from real-world experiences and learn the tools and strategies taken from actual transactions to successfully plan and execute a modern mixed-use development.