Live/Work/Play Communities and Why They're Perfect for Your CRE

If Disneyland had a counterpart for adults, it very well may be a Live/work/play community. Let’s just say: They have everything. From bars and restaurants to hiking trails near your office, these self-contained communities give citizens every outlet imaginable to build and enjoy their lifestyle.  

The number of these developments has quadrupled in recent years, so if you haven’t learned about these idealistic neighborhoods, you will soon. They’re becoming a popular solution to kill two birds with one stone: the grossly under-occupied office space levels and the lack of affordable, safe housing in prime communities. 

So, read on to learn more about Live/work/play communities, where they’re taking place, and why they are a match made in heaven for corporate tenants looking to lay down roots. 

Work Hard Play Hard? 

Maybe more like live easy, work easy, play easy.  

The concept is simple (and given away in the name). Live/work/ play communities are based around the idea that one need not leave an area to enjoy all that it has to offer - with housing, office complexes, shopping, recreation and amenities within a singular neighborhood. Let’s go a bit deeper to understand how they work:  

Live

These communities are built to accommodate the housing needs of any member. From apartments and condos to single and multi-family residences, anyone can find a comfortable place to live in close proximity to the other needs of their schedules.  

Live/ work/ plays usually lure in young professionals and families due to their affordable housing and community-driven lifestyle. Then on top of those perks, they don’t need to travel far for work. It’s easy to see how those living here can become comfortable in their lives and routines quickly. 

Work

Commonly live/work/play communities prosper because those who live there work within the boundaries. It’s common to see offices and facilities that are suitable for white collar work throughout these communities. 

In an age where workplace flexibility is still a top priority among job searchers, convenient and premium corporate locations are all the more important. This is especially true if your business seeks to encourage in-person collaboration. Do you think your employees are more likely to return to corporate spaces if they have to walk down the block or commute multiple hours by public transport both ways every day? Learn how to Use Your CRE to Become a More Competitive Recruiter in the War for Talent. 

Live/work/play communities are usually built around multi-use developments. This means it’s not uncommon to see work, retail, housing, etc. in the same building. As one would imagine, a lifestyle of this regard is characterized by ease. 

Employees no longer have to deal with the headaches of public transportation or even long, traffic-plagued drives. Your team is free to walk, bike, scooter (or even skip) to work freely. Okay, maybe not, but that’s how easy (and pleasant) it can be in these communities. 

If you're a corporate tenant looking for office space in one of these communities (or really any market), learn how to find the best space for the best price in the course below. 

 Homes are often even built closer to parks, natural trails, or entertainment centers. Convenience is the name of the game here. There’s no good excuse to not have a good time.

Read the full article