ROUND UP: Phillip Lukin, Rachel Jackson and Elisha Long share five things you might want to factor in if you want to make a business case for re-loving a building.
1. Spend less on branding
These days, property is all about placemaking. But if you are creating a new asset, you might spend thousands of dollars on advertising and marketing to create a unique identity that positions the building in the marketplace.
In contrast, existing buildings already have an identity and a place in the local mental map of an area. As Phillip Lukin, Wilson Architects Associate explains, the re-love process is often about pushing a building back into the forefront of the public’s mind.