A device determines whether an application, utilized by a user device and associated with a network, is a low latency application or a best effort application. The device designates a first network device or a second network device as a designated network device to be an IP anchor point for the application based on a set of rules. The first network device is designated as the designated network device when the application is the low latency application, or the second network device is designated as the designated network device when the application is the best effort application. The device provides, to the user device, information informing the user device that the designated network device is to be the IP anchor point for the application, and provides, to the network, information instructing the network to utilize the designated network device as the IP anchor point for the application.