In a Mixed Use property, what is the minimum percentage required for the residential component?

In a Mixed Use property, the requirement for the residential component is set at a minimum of 50%. This ensures that the residential use is significant enough to qualify for particular financing and insurance products geared towards residential properties.

The 50% threshold typically reflects the intention of mixed-use developments, which are designed to provide both residential and commercial spaces while prioritizing residential living. This balance allows for vibrant, mixed communities where people can live, work, and enjoy amenities in close proximity, ultimately enhancing livability and economic activity within the property.

Meeting this percentage is crucial for compliance with lending programs and regulations that focus on encouraging residential use in conjunction with commercial spaces.