By Ashley O’Connor, executive managing director at MGAC Large-scale mixed-use developments are reshaping urban landscapes, offering opportunities to reimagine cities as more appealing places to live, work and visit. Unlike traditional single-use developments, these projects blend various real estate verticals — residential, commercial, recreational — into cohesive ecosystems. The versatility of these projects both mitigates risks during economic downturns, such as oversupply in specific sectors, and fosters resilience and adaptability, making them stand out as sustainable investments in an evolving urban environment. Enhancing Visual, Functional Landscapes The shift away from monolithic single-use buildings has transformed skylines, replacing them with dynamic, multi-purpose structures that blend into their surroundings. These projects often feature green spaces, public art installations and architectural elements that enhance aesthetics and functionality. For instance, the redevelopment of the Century Plaza Hotel in Los Angeles demonstrates how historical preservation can coexist with modern innovation. Once celebrated for its mid-century design, the property’s transformation added sleek residential towers while maintaining its iconic charm, creating a vibrant hub that reflects the city’s evolving identity. Similarly, the Etobicoke Civic Center in Toronto illustrates how well-designed mixed-use developments contribute to urban appeal. By combining civic, residential and commercial spaces into a single 800,000-square-foot …
