As more renters seek communities with that live-work-play feel, mixed-use is offering investors and developers a chance to showcase their new apartments while adding to the economic growth of the neighborhood. Founded in 2004, The Domain Cos. has been a major player in the mixed-use sector, amassing more than $1 billion in development and providing sustainable units for mixed-income residents across markets from New York City to Louisiana. Multi-Housing News spoke with principal Matthew Schwartz about the firm’s expanding geographic portfolio, the appeal of mixed-use and what the future holds for the company.
Schwartz: The first step is identifying communities where we see opportunity to invest and grow over time. We are looking to identify indicators of growth potential that may have been overlooked by the market. With each individual project, we look to develop a best-in-class asset, whether that’s in special-needs housing or high-end hospitality. Further, we want to know that we can operate that asset to maintain that position. As a result, we are constantly looking to innovate and identify opportunities to create a meaningful leap in value with our products and operations. Our projects typically include elements like brownfields, historic structures, complex entitlements or other opportunities to add or unlock additional value. Finally, we are looking to create communities that are sustainable and grow in value over time. This means finding the right mix of housing, retail and services to make a community thrive. These elements often require complex financing strategies or multi-layered public-private partnerships that create opportunities for added value.