Chapter 3: Placemaking: Creating Value With Smart Spaces

As placemaking is rapidly changing the urban landscape, the way in which we view real estate assets and their value needs to adapt to meet evolving community demands, where people create places where they want to actually live, play, and work. Increasingly, space in the city is linked to younger generations and the emerging knowledge (gig) economy. This interconnection is shaping current and future cities skylines, with buildings that offer new working and living environments. Foremost are co-living/coworking spaces which are looking beyond the offering associated with traditional office and apartment complexes. Owners and investors need to understand the new avenues to create real estate value and seek opportunities to reap commercial rewards far beyond the historical property investment arrangements.