{"id":28732,"date":"2025-01-24T11:41:35","date_gmt":"2025-01-24T19:41:35","guid":{"rendered":"https:\/\/essential.construction\/news\/7-mixed-use-projects-to-watch-in-2025\/"},"modified":"2025-01-24T11:41:35","modified_gmt":"2025-01-24T19:41:35","slug":"7-mixed-use-projects-to-watch-in-2025","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/7-mixed-use-projects-to-watch-in-2025\/","title":{"rendered":"7 mixed-use projects to watch in 2025"},"content":{"rendered":"

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Multifamily start activity <\/span><\/span><\/span><\/span><\/span><\/span>has slowed significantly<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a> over the past year, with a 28.8% year-over-year drop reported in November. However, there are still developers taking advantage of opportunities to deploy capital \u2014 many of them on a very large scale.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

These mixed-use projects are located across the country in both urban and suburban areas, some already started and others expected to break ground soon. Here are a few examples of the largest mixed-use projects making news this year:\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

Willets Point<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n
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A rendering of the Willets Point redevelopment project, including the new NYCFC stadium.<\/p>\n

Courtesy of Willets Point<\/p>\n

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Location<\/span><\/span><\/strong><\/span><\/span><\/span>: Queens, New York<\/span><\/span><\/span><\/span><\/span><\/span>
Developer<\/span><\/span><\/strong><\/span><\/span><\/span>: Related Cos.<\/span><\/span><\/span><\/span><\/span><\/span>
Cost<\/span><\/span><\/strong><\/span><\/span><\/span>: $3 billion <\/span><\/span><\/span><\/span><\/span><\/span>
Groundbreaking<\/span><\/span><\/strong><\/span><\/span><\/span>: June 2021<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

New York City-based Related Cos. has its eye on revitalizing <\/span><\/span><\/span><\/span><\/span><\/span>a 62-acre section of Queens<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a> near the Flushing River and next to the New York Mets\u2019 Citi Field stadium. Willets Point, once an ash dumping ground, has long been known for its auto shops and junkyards.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

The <\/span><\/span><\/span><\/span><\/span><\/span>$3 billion redevelopment plan<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a> calls for 2,500 new affordable homes, over 20,000 square feet of retail, a 650-student public school and 40,000 square feet of public space. A new <\/span><\/span><\/span><\/span><\/span><\/span>$780 million stadium <\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a>for the New York City Football Club soccer team is expected to open on the site in 2027.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

Remedial work at the site began in June 2021 and has since been completed. The first vertical phase will include 1,100 of the planned affordable housing units.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

Veridea<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n
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A rendering of the upcoming Veridea master-planned community in Apex, North Carolina, under development by RXR.<\/p>\n

Courtesy of McAdams<\/p>\n

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Location<\/span><\/span><\/strong><\/span><\/span><\/span>: Apex, North Carolina<\/span><\/span><\/span><\/span><\/span><\/span>
Developer<\/span><\/span><\/strong><\/span><\/span><\/span>: RXR<\/span><\/span><\/span><\/span><\/span><\/span>
Cost<\/span><\/span><\/strong><\/span><\/span><\/span>: $3 billion<\/span><\/span><\/span><\/span><\/span><\/span>
Groundbreaking<\/span><\/span><\/strong><\/span><\/span><\/span>: December 2024<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

New York City-based real estate firm RXR is underway on the first phase of development at the $3 billion Veridea mixed-use project in Apex, North Carolina, located southwest of Raleigh. The 1,100-acre project had been in the planning stages for 17 years when RXR took over the site in 2023, according to a press release shared with Multifamily Dive.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

The first phase will include 1,500 multifamily units; 1,100 single-family homes and townhomes built by Miami-based home builder Lennar; 150,000 square feet of commercial, retail and restaurant space; over 200,000 square feet of industrial space and a new campus for Wake Tech Community College, according to the release.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

At full buildout, Veridea will offer up to 8,000 residential units, 3.5 million square feet of retail space, 12 million square feet of commercial space and a new public elementary school, in addition to the new college campus, the release said.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

South Pier<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n
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A rendering of Shorehaven, the 722-unit first phase of the South Pier mixed-use development in Tempe, Arizona, by Cantor Fitzgerald and Silverstein Properties.<\/p>\n

Permission granted by Cantor Fitzgerald<\/p>\n

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Location<\/span><\/span><\/strong><\/span><\/span><\/span>: Tempe, Arizona<\/span><\/span><\/span><\/span><\/span><\/span>
Developers<\/span><\/span><\/strong><\/span><\/span><\/span>: Cantor Fitzgerald, Silverstein Properties<\/span><\/span><\/span><\/span><\/span><\/span>
Cost<\/span><\/span><\/strong><\/span><\/span><\/span>: $1.8 billion<\/span><\/span><\/span><\/span><\/span><\/span>
Groundbreaking<\/span><\/span><\/strong><\/span><\/span><\/span>: 2023<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

South Pier, a $1.8 billion <\/span><\/span><\/span><\/span><\/span><\/span>master-planned community in progress<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a> on the Tempe Town Lake waterfront in Tempe, Arizona, hit a milestone in its construction in October with the topping out of its first phase \u2014 Shorehaven, a three-building site mixing residential, retail and recreational space.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

Developer Silverstein Properties and financial services company Cantor Fitzgerald, both based in New York City, intend to build a multi-acre complex of apartments, condos, hotels and office towers on the Opportunity Zone site, along with an entertainment pier.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

Shorehaven will consist of 722 units ranging from studios to three bedrooms, plus 20,000 square feet of indoor amenities, 30,000 square feet of outdoor amenities and 26,000 square feet of retail, according to the release. The property is slated for completion in 2026.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

Park Eight Place<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n
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The development plan for Park Eight Place in Houston by Johnson Development.<\/p>\n

Courtesy of Johnson Development<\/p>\n

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Location<\/span><\/span><\/strong><\/span><\/span><\/span>: Houston<\/span><\/span><\/span><\/span><\/span><\/span>
Developer<\/span><\/span><\/strong><\/span><\/span><\/span>: Johnson Development <\/span><\/span><\/span><\/span><\/span><\/span>
Cost<\/span><\/span><\/strong><\/span><\/span><\/span>: $1 billion (projected)<\/span><\/span><\/span><\/span><\/span><\/span>
Groundbreaking<\/span><\/span><\/strong><\/span><\/span><\/span>: Late 2024<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

Houston-based Johnson Development announced <\/span><\/span><\/span><\/span><\/span><\/span>the groundbreaking<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a> of Park Eight Place, a 70-acre mixed-use site in west Houston\u2019s Westchase district, on Sept. 25. Site work has since begun on the estimated $1 billion project, with <\/span><\/span><\/span><\/span><\/span><\/span>roads and infrastructure<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a> set to follow early this year, according to the Houston Chronicle. Information on residential developments at the property is not yet available.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

The project is designed around promoting healthier lifestyles, according to the developer\u2019s news release. Michael Cox, president of Johnson Development, says the property is driven by a commitment to environmentally friendly and sustainable design and technologies.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n