Beyond the Building: Transforming Properties into Thriving Destinations
January 15, 2025 by Chip Fleming | Real Estate Development
Most commercial real estate buildings are unremarkable.
They serve a functional purpose but rarely maximize their full potential. The formula for success in real estate has evolved, yet much of the industry continues to overlook something fundamental — not the latest trends or fads, but the timeless human need for connection and meaningful experiences. Instead of focusing on what truly draws people in and makes them stay, too many properties rely on surface-level enhancements that miss the mark.
THE COST OF MISSED POTENTIAL
Whether it’s a multifamily, office, retail, or industrial property, many owners — knowingly or unknowingly — accept ongoing revenue losses as just the cost of doing business. They hemorrhage money each month through rent discounts, concessions, turnover, downtime, and excessive marketing costs, all while trying to force a generic product onto a market that demands something better. In doing so, many risk falling into the trap of commoditization, where competition is driven primarily by pricing and discounts — a game no business owner truly wins (more on this in a future article).
Yet, the industry’s deep focus on cap rates and spreadsheets, often shaped by real estate publications and broker insights, overlooks a far more important question:
How do we create places where people genuinely want to be — places they are drawn to, stay longer in, and feel emotionally connected to?
WHY TREND CHASING FALLS SHORT
Property owners looking to modernize often chase surface-level trends — adding fitness centers, pickleball courts, or murals in an attempt to enhance their spaces. While these can be valuable, they rarely deliver meaningful impact. Why? Because they’re not rooted in a deep understanding of the people who actually use the space. Too often, these additions are treated as isolated upgrades rather than part of a larger, cohesive vision — implemented without truly considering who the residents are, how they live, and what they genuinely want and need from their environment.
A fitness center, for example, might seem like a great investment — but if it’s filled with treadmills and ellipticals while 85% of potential users prefer free weights and squat racks, it becomes an underutilized amenity rather than a true value driver. The same applies to other add-ons — without a deep understanding of what people actually want, even well-intended upgrades can be a total miss.
I've seen countless property owners rely on broad, generic customer personas — like “25-45-year-old professionals” — which fail to uncover what truly influences someone to choose, stay, and invest in a place.
I was recently in a meeting with a very wealthy businessman who owns several multifamily properties. Frustrated by their poor performance, he was focused almost solely on occupancy rates — seeing them as the ultimate measure of success. What he failed to recognize was the thousands of dollars his properties were losing every single month trying to buy more occupancy through discounts and concessions. His assets had unknowingly become commodities, competing on price rather than value.
In the same conversation, he proudly mentioned a recent investment — spending thousands to convert several basketball courts into pickleball courts. When I asked what drove that decision, his answer was simple: “It’s a fast-growing sport.” Yet he had no data on his actual residents' demographics, preferences, or interests — no idea whether they wanted pickleball or if they’d even use it. He had made a significant financial decision based purely on a trend, without understanding if it actually added value to the people living there.
This is the reality for many property owners. They chase trends, throw money at surface-level upgrades, and compete on price — all while missing the bigger picture: what people actually want and need in a place they choose to call home.
When an asset is designed to genuinely serve the wants and needs of its residents, it shifts from being a commodity to a true value proposition. Instead of relying on costly concessions and rent discounts, the property becomes inherently more desirable, reducing turnover, increasing demand, and ultimately saving the business a significant amount of money while creating a more sustainable and profitable model.
To create spaces that stand out, property owners must dig deeper:
>> Who are your residents or tenants beyond their age and job title?
>> What are their aspirations, interests, and daily routines?
>> Where do they shop, dine, and spend their free time?
>> What types of experiences and environments make them feel at home?
>> What do they prioritize when it comes to spending their money?
These insights don’t come from industry headlines or data reports — they come from real, ongoing conversations with the people you serve. It’s not about checking a box; it’s about becoming obsessed with understanding your customers.
FROM GENERIC PROPERTIES TO MEMORABLE DESTINATIONS
The Destination Equation:
1 - A product that aligns with real customer desires → Higher demand, ability to command higher rents.
2 - A dynamic, ever-evolving experience → Longer retention, stronger loyalty.
3 - A thriving, connected community → Increased longevity, lower turnover, and an environment where people don’t just occupy space — they actively participate in it.
At the core of this transformation is building real community — and strong communities are built on the pillars of art, culture, connection and collaboration. This isn’t about surface-level amenities; it’s about crafting layered experiences that foster genuine belonging. A thriving community is one of the most powerful drivers of long-term retention and value creation.
THE MAGIC OF A TRUE DESTINATION
Most properties are just that — properties. But what many owners truly want is something more: a destination — a place so thoughtfully curated that people go out of their way to be there. It’s where time slows down, every detail enhances the experience, and people form lasting emotional connections.
A true destination isn’t defined by amenities — it’s about how a place makes people feel. Designed with care and intention, it naturally invites people to pause, be present, and stay longer.
A true destination is a place that:
>> Gives people the gift of time — allowing them to linger, unwind, and escape the rush of daily life.
>> Surprises and delights through curated details, where every design choice has a purpose and every space tells a story.
>> Seamlessly blends energy, intention, and thoughtful design — creating environments that engage, inspire, and support a range of experiences.
>> Feels effortless and intuitive — where visitors don’t need to plan their next move; they simply want to stay and explore.
>> Engages all five senses in a layered, meaningful way — weaving together sight, sound, scent, touch, and even taste to create an immersive experience that feels natural yet deeply resonant. When executed well, these elements work in harmony — felt rather than noticed, enhancing the space without drawing attention to themselves.
>> Creates an emotional connection — transforming a space from somewhere people visit into somewhere they truly belong.
The most iconic places don’t just attract people — they draw them in, make them feel connected, and become part of their lives. A true destination isn’t just a place people visit — it’s a place they never want to leave.
HOW WE HELP OWNERS CREATE DESTINATIONS
We specialize in helping property owners rethink their spaces through a creative, community-driven approach.
By combining a deep understanding of real estate fundamentals with a relentless focus on customer needs — and leveraging great design, storytelling, local art, culture, and strategic collaborations — we help transform properties into destinations that resonate deeply with the people who experience them.
Our approach includes:
✔ Diligent research to uncover the true wants and needs of your core audience.
✔ Designing environments that go beyond fleeting trends to create lasting emotional impact.
✔ Integrating dynamic and evolving art, culture, and immersive experiences that make spaces feel alive and exciting.
✔ Building strategic partnerships and community-driven programming that foster authentic engagement.
Real estate success today goes beyond location, aesthetics, and building features — it’s about creating meaning and connection.
The most valuable properties of the future will be those that people don’t just choose out of necessity, but out of love for the experience they provide.
Ready to move beyond the ordinary and build something extraordinary?
We’d love to help!
📩 Send inquiries to: chip@creatorsignite.com