As mixed-use developments continue to rise in popularity are they inadvertently killing off the office park, or will office parks be able to remake themselves into some semblance of mixed use to keep them attractive to future developers?
With more value being placed on transit access and walkability, location is more important than ever for suburban development, but precious few parcels of land remain available to develop in areas that make sense. Many older corporate campuses occupy well-positioned land, and developers and municipalities alike are looking for ways to leverage them, writes Matthew Rothstein for biznow.com.
“We have a future land-use map, and we need to talk about how our business parks need to be dynamic places with retail, and a good portion of new multifamily projects have been proposed in office parks,” Montgomery County Planning Commission Executive Director Jody Holton said at Bisnow’s Strength of the Philly Suburbs event last week.
Such redevelopments have already proved successful, with projects like Ambler Yards, the conversion of the Dow campus into Spring House Innovation Park and Corporate Office Properties Trust’s redevelopment of the Unisys campus in Blue Bell into Arborcrest.
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