Elliot Feuerstein is a San Diego, CA, commercial real estate and construction executive with over 40 years of experience in the industry. Away from his professional responsibilities as an officer of Mira Mesa Shopping Center, Elliot Feuerstein engages with the commercial real estate and building industries as a member of the International Council of Shopping Centers (ICSC).
Recently, the ICSC published the results of a survey indicating that consumers are demonstrating a growing interest in mixed-use retail centers, defined as a single location where people can shop, play, work, and live. The data showed that 78 percent of American adults would consider living in a property that comprises workplaces, retail stores, dining places, and recreational amenities. The responses also indicated that a full 80 percent of people would like to live within walking distance of these amenities. The rising preference among consumers for walkable environments has also been noted by the Urban Land Institute in its own research.
Many real estate groups attribute rising interest in mixed-use retail among consumers to a modern appreciation of and desire for convenience. There is a strong appeal in the ability to leave one’s home and walk quickly to a restaurant, retail store, supermarket, or even a workplace -- even more so in a digital age where the internet has conditioned industrialized populations to instant gratification.