Question

The old factory was converted into condominiums on the top six floors, a health club on the fourth floor, offices on floors two and three, and specialty shops and restaurants on the ground floor. This would be an example

Answer 1

Answer: This would be an example of Mixed-use development.

Explanation: Mixed-use development is a development that involves either the conversion of old buildings into buildings that can serve the purpose of mixed use, or the creation of new buildings that will serve this purpose alone.

Mixed use refers to different uses, for instance where a single building houses an apartment, a studio, a firm, a doctor's office, etc.

This development can be undertaken by a private developer, government, or both.

The benefits of a mixed use building can be seen in the question above, where various units can be created in one building, leading to more efficient use of space and also higher income generation.