The way that we live, work, and play has been rapidly evolving in recent years, with the Covid-19 pandemic accelerating a new trend in real estate and property management. Live, work, and play communities are growing in popularity and feature intentionally built environments that integrate residential, professional, and recreational spaces designed to be welcoming to all.
Let’s explore what these new communities are and why so many are finding them beneficial to their work/life balance. 
What Are Live, Work, & Play Communities?
Live-work-play spaces are planned communities or developments that integrate residential, commercial, and recreational areas into a single, cohesive environment. The goal is to create self-contained neighborhoods that reduce commuting, enhance walkability, and foster a sense of community.
Unlike traditional single-use zoning communities, where commercial and residential areas are often separated, these types of communities promote a seamless lifestyle, allowing people to live, work, and play in the same location, building, or neighborhood.
Key Elements & Benefits of Live, Work & Play Developments
Key elements of this style of community include flexible living and working spaces, popular amenities like coworking facilities and fitness centers, and a greater emphasis on community and sustainability.
Amenities
Live, work, and play communities have popular amenities such as cafes, restaurants, boutique gyms, coworking spaces, and personal care services (hair salons, nail salons, etc). Another aspect of these communities includes public spaces, green areas, and places to enjoy the outdoors with children or pets.
Flexible Living Spaces
Living spaces in these types of communities often feature a variety of unit types to attract different demographics, including studios, one- to three-bedroom units, and townhomes.
Access to Technology
The “work” component of these communities requires easy access to the internet and technology, thereby enhancing residents’ experiences. This access to coworking spaces means a better work-life balance for those who can work and live in the same area. 
Why Live, Work & Play is So Popular
The primary reason these communities are gaining popularity, especially among young professionals, is the convenience factor. Having your workspace, living space, and places to be entertained all in one location is ideal.
Other perks of these communities include a short commute to work or no commute at all, thereby shortening the workday and reducing gas and vehicle maintenance costs. The shortened commute means more time for family or fun in the evenings.
The Future of Live, Work & Play
The rise of live, work, and play properties and developments thrives on the sense of community that they foster, with young professionals enjoying the ability to make friends, enjoy entertainment, and live all in the same vicinity. The future of these communities is bright as renters reap the benefits of co-working spaces, restaurants, entertainment, and relaxation all in one convenient location.
Does your property need managing? Contact our team at Thayer & Associates for a professional management team with years of experience.