Art and culture are two valuable factors in today’s real estate setting, hence the emergence of the concept of creative placemaking. Proven as an accelerator for real estate development, creative placemaking changes the game for real property, leveraging on culture and art to make people stay longer, come back often, and spend more money in real estate settings.
Creative placemaking is all about creating buildings and structures that are centered on arts and culture in an effort to make them attractive to the community. The results? More engagement, a more vibrant structure, and a thriving community. With these, creative placemaking is becoming a norm as an essential aspect to good design.
How Creative Placemaking Can Benefit Real Estate Development
Through creative placemaking, a real estate project can thrive, attracting more people and meeting the needs of the community. Some of the benefits of creative placemaking in real estate development include:
Foster a healthy, thriving, and attractive community.
Through adopting arts and culture, the community is given a home that they can resonate with and want to spend their time in, contributing to the health, collaboration, and sense of identity in a community.
Improve ROI.
People who fall in love with a project and its stories will tend to stay longer, come back more often, and spend more money on a place, hence helping the project improve ROI in all phases of the development cycle
Scalability.
Creative placemaking innovates according to the needs of the community. Whether for small or large scale projects, each one can be innovated and improved according to marketability and for the purpose of uplifting the community.
Why Creative Placemaking Is Changing the Game for Real Estate Projects
Creative placemaking is being adopted to real estate projects, helping the latter steer away from traditional methods and instead shifting to a fresh people-centered design. Creating architecture with culture and people in mind results in a building that tells a story. It extends and reflects the people around it, the communities, the location, and the culture.
More than creating a building for functional needs of the community, creative placemaking adds a much-welcomed creative twist that engages the people and their experiences — not just the products.
