Mixed-Use Developments Turn To Placemaking To Cater To Millennials
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Rather than cling to the days of old, developers are embracing Millennials’ desire to spend on experiences over possessions by building mixed-use developments that serve as attractions in their own right.
Vortex Aquatic Structures International is one company catering to this demand. The firm builds water parks in shopping malls, hotels, camping grounds and public parks as a way to draw more guests to the area and raise rates, Construction Dive reports. Owners hope these types of mixed-use, entertaining developments will give customers who prefer the convenience of online shopping a reason to come out and spend money.
Urban Commons is making a similar bet, announcing plans to build a $250M development around the Queen Mary attraction in Long Beach, California. This trend among mixed-use developments is part of a greater effort by developers to placemake their properties, turning them from one-stop attractions into all-encompassing experiences.