What Is Mixed Use Development?


15 Apr


When you say mixed-use development, you are actually talking about buildings that have multiple zones units used for various purposes, but the most common of all is the commercial which is the office building spaces and retail shopping centers and the residential which refers to multifamily. Included in these are the mixed use of cultural, institutional, and industrial units.


A very common example for this that is quite transparent these days is a mixed-use building wherein the ground floor is full of retail stores while the higher floors consist of residential units also known as condo or rental. You must know that at least 80% of your mixed-use building for residential use is what is required of by some loans that came from the government. There are government agencies who are able to fund mixed-use development for different property sizes, with a starting rate of $5 million. 


You can be able to choose from short-term financing to long-term financing for Assets America loans that you acquire for a mixed-use property. The phase of rehabilitation or construction is being financed by commercial mortgage bridge loans or interest-only mixed-use construction loans coming from private lenders or banks, and often backed by different agencies of the government. The common terms that are given are from 6 to 18 months but this will reach up to 5 years if the project is larger. As soon as a certificate of occupancy will be granted, mini-perm loans are able to pay the construction phase, and 90% - 95% of the total space will be stabilized and leased.


The common startup term for these loans is only up to five years, however, they are eventually replaced by commercial takeout loans, mortgages, and permanent loans, with amortization terms that will reach to 30 years.


Another usage for these loans at https://assetsamerica.com is to refinance mixed use of real estate. A company can easily provide full financing for mixed-use development construction and financing, mixed-use takeout loans, mixed-use mini-perm, and mixed-use bridge, thereby assuring that funding will be continued for business owners and investors nationwide. This bridge loan funding for multi-use helps developers that do not have enough qualification for the typical, bank-sourced loans for construction.


Who is able to benefit from these loans for mixed-use development?


Loans for mixed-use development are often used by business owners and real estate investors. The investor has every intention of buying the mixed-use building or building it up so that he can have it leased for residential and commercial spaces or he can also sell the units as condos. Be sure to check out this website at http://www.huffingtonpost.com/young-entrepreneur-council/what-real-estate-companie_b_14414826.html for more info about real estate.

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