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Why Asset Owners care about Placemaking

We all know that the idea of the workplace has changed dramatically, along with people’s expectations. Changing technology, demographic shifts, globalisation, a desire for greater flexibility, the importance of health and wellbeing have all had their impact. Research shows that employees are looking for something that blurs the boundaries between work and leisure, allowing them to make the most of their time and giving them a sense of connection; a human experience that will enrich their lives.

The economic benefits of better placemaking in work environments are significant for tenants and asset owners. For tenants, it can mean greater productivity and increased attraction and retention. It can foster collaboration and innovation and build brand equity. For asset owners it can mean achieving higher $ per sqm, making it easier to attract tenants and, importantly, keep them.

And so, if placemaking is about delivering an authentic experience that trumps fads and novelty; how do asset owners go about building a true sense of community?

Connecting people to place

Tenant engagement is thought about from the inside out. Design Development of new projects follows cues from the place that people want to be in, one that creates a sense of belonging and motives productivity and wellness.

Going Beyond Sustainability

Tenants are now thinking about health, wellbeing and happiness, not just sustainability. While many companies will look to achieve sustainable goals with regard to energy and environmental impact, the considerations are going beyond this. Healthy people are happy people, and the workplace must evolve to address this emerging trend.

Creating Recall

Placemaking is shown to create a sense of recall- which means Asset Owners are striving to deliver an experience and development that creates a memorable experience that makes people want to return. From building amenity to the surrounding businesses, access to nature or social connections - all of this can contribute to the workplace in a positive and meaningful way.

Access to Collaborative Spaces

Businesses have understood the true value of collaboration and collaborative spaces. Occupiers are therefore demanding better access to amenities that tie into overall productivity.

Future-proofing through Placemaking

Most importantly, future-proofing has become key to new developments. While looking to the past or even the present can provide insight, it’s only part of the picture. Providing enough flexibility in our placemaking vision and spaces is key to ensuring the workplace can flex and change as needed.

PHI Space has developed a proprietary Placemaking Tool to help Asset Owners identify strategies across their development. Reach out to us for more information on our Placemaking Service and Tools.

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