Placemaking is the word on everyone’s lips in property at the moment, but what actual benefits can it bring to mixed-use developments? Well, there are a number of things it can help to achieve, not least attracting occupiers - whether commercial or residential - to a development. In addition, placemaking can help to create a sense of community and boost the local economy.

Attract occupiers

Ultimately, attracting occupiers is the end-goal for any developer. But, with increasing competition in the market, you need your development to stand out. Having a vibrant mix of activities will help to draw people to your scheme and, more importantly, make them want to stay there. When it comes to letting space, occupiers have their pick, but if a scheme is in the heart of a bustling business and leisure community then it will score extra points. Organised events and activities also create PR opportunities, bringing more attention to your scheme.

Create a sense of community

Placemaking creates opportunities for people to come together in a natural setting and the feeling of being a part of something helps to forge community spirit. Whether it’s at an event with hundreds of people or simply two strangers striking up a conversation over a coffee while admiring a piece of public art, it all adds to that sense of being ‘in it together’. This is especially important if there is a residential aspect to your mixed-use development. People often choose where they want to live with their hearts, not just their heads.

Economy boost

An area with plenty of footfall will undoubtedly attract business opportunities. In turn, once businesses begin to thrive at a development, this will attract more people and therefore more business interest - and so it goes on. Add events and community activities into the mix and opportunities increase even further. The ripple effect from your mixed-use development will then begin to extend to surrounding areas, helping to reduce shop and office vacancy rates and attracting residents to nearby housing.

Effective placemaking takes time, planning and investment, but if you put the effort in, your mixed-use development will reap the rewards.

This article gives a brief insight into the benefits of placemaking for mixed-use developments. There's a lot more detail in our ebook Effective Placemaking Communications For Your Mixed-Use Development, Volume 1: Explore, which you can download for free with just an email address.