Asking AI About Multifamily Strategy
Me: Do multifamily real estate developers care if there is a compelling story and narrative behind the buildings they build?
Bing AI:
"That’s an interesting question.
I think multifamily real estate developers do care if there is a compelling story and narrative behind the apartment buildings they build, for several reasons:
1. A story and narrative can help differentiate the apartment building from other competing properties in the market. By creating a unique identity and personality for the building, developers can attract and retain tenants who resonate with the story and share the same values, lifestyle, or aspirations(1).
2. A story and narrative can also help communicate the vision, mission, and goals of the developer to various stakeholders, such as investors, lenders, partners, contractors, regulators, and community members. By telling a compelling story about the purpose, benefits, and impact of the project, developers can build trust, credibility, and support for their endeavors (2).
3. A story and narrative can also help inspire the design, development, and management of the apartment building. By having a clear and consistent theme, message, and tone for the project, developers can guide the decisions and actions of their team members, from architects and engineers to marketers and property managers (3).
Therefore, a story and narrative can help create value, influence perception, and foster engagement for their projects."
Not too bad for a bot, even cited references.
Of course I agree.
I believe every multifamily project needs to START with a simple and compelling narrative informed by data on our end users, connect to the fabric of the surrounding community, and be methodically carried through architecture, interior design, marketing, leasing and finally, reflected in the tenant's tangible experience.
My question is, do you?
Author: Vicki Johnston. © 2024. All rights reserved.