A dominant suburban element in the Frankston area means its residential property mix is not as diverse as areas that are closer to the Melbourne city centre—as the suburb has minimal multi-storey development. However, as the economic hub as well as gateway to the Mornington Peninsula, Frankston has been defined as one of the nine activity centres in the metropolitan area of Melbourne in various Victorian state government planning policies—which aim to increase multi-storey property development in the Frankston Central Business District (CBD).