I am really drawn to live/work spaces like these ones here in Oklahoma City's new Wheeler District. (Additional project info can be found over here.) We have some examples of this in Toronto, but I wouldn't say it's commonly done. And oftentimes they don't work at all. More often than not, these spaces seem to just get used as strictly residential (which is okay).
But there are some arguably successful examples that we can point to. CityPlace is maybe one. When the area was first getting developed, retail would have been an extremely difficult use to underwrite. It was a development island. And so live/work suites were introduced at grade along much of the area's main artery.
The area did eventually get new dedicated retail, but its live/work suites also started taking on more "work" as demand in the area grew. Today, nobody is going to confuse it with Bloor Street, but importantly, the ground floor was able to change and adapt. And this is one of the great benefits, or at least promises, of live/work: you get additional flexibility.
Personally, I would love to have a live/work space. I'd use it to incubate new ideas and sell random stuff. And I have a feeling that, given the opportunity, many others would do the same. So I plan to spend some more time thinking and writing about this topic. If any of you have shining examples of live/work successes, please share them in the comment section below.
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