Parkway Rides the Rise of Mixed-Use Communities
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Episode Transcript:
A seismic shift is reshaping America’s commercial landscape, reports Parkway CEO Jayson Lipsey, as office parks, malls, and apartment blocks rapidly fuse into dynamic mixed-use community hubs. His Houston-based firm has strategically positioned itself at the vanguard of this transformation across Sun Belt markets.
Lipsey spotlights the accelerating flight from traditional downtowns toward integrated developments interweaving offices, apartments, retail, hospitality, and recreation. He dubs this the “re-suburbanization of America,” catering to pandemic-induced yearnings for space, flexibility, and work-life integration by combining diverse amenities.
According to Lipsey, mixed-use properties now significantly outpace standalone offerings across metrics like occupancy, rental rates, investor appetite, resident satisfaction, and more. Parkway’s recent Houston acquisitions showcase their vision. The fully renovated 39-acre CityWestPlace campus thrives as a Class A office environment, while the company will infuse new life into Philip Johnson’s underutilized Post Oak Central complex through retail and residential additions.
But understanding user priorities is now mission-critical, says Lipsey. While CFOs historically guided location decisions, HR voices now weigh more heavily to attract and retain talent. Parkway thus actively courts these stakeholders when crafting “live-work-play” community hubs with human-centric design.
In essence, Parkway doesn’t merely construct buildings – it’s pioneering thoughtfully-designed town centers where people congregate and bond. Lipsey sees this approach as an uplifting societal force ushering in a new era of people-first urban planning. And with demand expanding for flexible, connected communities, Parkway aims to cement its leadership in this arena.
This is Tyler Cauble, Signing off