Why Retail Is Key To Healthy Multifamily
Without retail—either in the mix or in the neighborhood—it's harder for mixed-use and multifamily properties to thrive. That's why we're excited to talk about retail as part of our Phoenix Mixed-Use & Multifamily Forum on May 17 at the Grand Sheraton Phoenix.
From a retail development perspective, trending restaurants/retailers respond very favorably to sites that have appealing locations, public amenities, social experiences, superior access, solid employment and dense housing, Davis Enterprises partner Mark Davis, who will be a speaker at the event, tells us.
"While certain Phoenix submarkets have an oversupply of retail, reinvented and updated retail remains in hot demand. New multifamily is helping to bring a new injection of demand for retailers."
Phoenix-based Davis Enterprises is redeveloping an 11,800 SF strip center at 1015 S Rural Rd in Tempe. The property, which will be called The Wedge, is near Arizona State University and was previously home to a bookstore catering to ASU students. In its next incarnation, it will will include four or five restaurants or retail shops.
To hear more from Mark and our other panelists, join us at our Phoenix Mixed-Use & Multifamily Forum on May 17 at the Grand Sheraton Phoenix. Sign up here!
