Marketing in real estate development is more important than ever regardless of whether the market is growing, or contracting. No longer the “fluffier” counterpart to planning and design, marketing is an important investment that will shape how developers and new developments are perceived in increasingly competitive marketplaces. The upside of the pandemic is that people are now exceptionally efficient, yet the downside is that that efficiency has led to even shorter attention spans.
In markets that have slower absorption (such as New York or San Francisco), having the best marketing strategy is imperative to set yourself apart from the competition…
“Retailer X bites the dust.”
“Company Y goes remote.”
“The hospitality industry is confronting an imminent crisis.”
”People are fleeing dense, urban locales for the suburbs.”
~ Any Given Headline
2020 will reshape residential development for decades to come; where we are today just eight months in has been one eventful ride. We continue this voyage into what we consider “The Big Reset” for residential development. In this report, we are focusing on three opportunity areas for future growth:
Skidmore Owings & Merrill (SOM) asked in 2019, “We Recycle Bottles. Why Don’t…
“A diverse mix of voices leads to better discussions, decisions, and outcomes for everyone.”
Sundar Pichai | CEO | Alphabet
The New Normal is here, and to us, it feels more and more like we’re in The Big Reset. Our development clients are gearing up for a busier Q3 + Q4; which requires that Butterfly Voyage’s (BV) perspective includes our extensive experience, yet that perspective must be equally balanced with new thinking that challenges the status quo. This month, we’re focusing on making diversity less of an uncomfortable word in new development and providing some insight + thought-starters.
I am Brown. What if I were Black?
My Manhattan upbringing was an eventful combination of the Smith Houses projects on the Lower East Side, and a fully-staffed building on Park Avenue. I was an emancipated minor, I got my GED, I dropped out of college after three years, and I have succeeded more than I have stumbled. …
“Change is inevitable. Growth is optional.”
~ John Maxwell
Welcome to the new normal. A place where we must begin to act in ways that we have never needed to. Over the past few decades, real estate development has always been one of the last industries to embrace new thinking and new technologies. If we don’t adapt our thinking, design processes, and the customer experience for our products to meet demands, our industry will struggle more than is necessary to recover from this recession. …
“It was one thing to get yourself out of a stuck place, I realized.
It was another thing entirely to try and get the place itself unstuck”
~ Michelle Obama
We created Butterfly Voyage to encourage diversity of all types; to bring together real estate development collaborators that come to the table with different ideas + perspectives, and deliver memorable new developments. We prided ourselves in not seeing color; we now realize that to not see color is not good enough.
Instead, we must commit to seeing color, to actively speak up when we don’t see enough of it, and…
Optimistically, the hopes of our industry to turn the corner look to be around mid-May to June at the earliest. There are still a few new development contracts being signed and closings still taking place, albeit with a COVID-19 rider + other stipulations. The most important action that development teams can take now is to prepare for the recovery phase and be ready to move immediately when the market enters the inevitable “new normal” cycle. …
The most important thing for us to remember is that our industry has created the most-used product of 2020; The homes that people live in and will continue to do so. Our homes are now offices (often multiple offices), gyms, classrooms, creative spaces, restaurants, spas, and include every aspect of a modern lifestyle. COVID-19 will unquestionably change how homes will be built in the future. At this moment, what we need most is to be empowered with the right information to make decisions, even if short-term as long-term decision making still remains a moving target. …