Developers are attracting high-end buyers and performing in a competitive property market through individualized, considered design. From perfectly sourced interiors to amenities such as yoga studios, biophilic gardens and doggie day care, developers are differentiating in new ways.

This focus on value creation has extended into the art featured in new developments. Gone are the cheap reproduction prints that take up white wall space. Instead, developers are collaborating with design firms, curators and artists to create highly engaging, museum quality spaces.

A large part of the reason art has become such a focus in new developments is that the buyer’s relationship with fine art has changed. More people buying in high end developments feel like experts and connoisseurs.

"Visual culture is more engrained in daily life, especially through media, Instagram and Pinterest," said Tze Chun, the founder of Uprise Art, a gallery in Manhattan that works with developers, architects and interior designers. "People are much more comfortable and confident viewing, discussing and interacting with art."

This knowledge raises what is possible for developers. "Developers are looking to invest more money in amenities spaces, elevator banks and lounge areas, instead of buying print on-demand corporate art," said Ms. Chun.

Art that reflects the local neighbourhood, and the buyer

Art gives the developer license to put the finishing touch on a project, and to strengthen the relationship between the building’s location and its residents. At The Ashland in Fort Greene, Brooklyn, a 30-foot hanging rope sculpture called "Inverted Arches of Gold" is located in a glass vestibule at the entrance of the building. The sculpture is lit up at night, forming a main focal point as you walk or drive by the space. The artist, Rachel Mica Weiss, is a young Brooklyn resident. Art can give developers a more nuanced story through which they describe their connections to the community and sell the property.

Art is becoming expected by luxury buyers

The Related Group’s investment in art is seen in their Paraiso District, a residential development on the Biscayne Bay waterfront. Carlos Rosso, president of Related’s condominium development believes purchasing and curating high-quality art attracts an active pocket of luxury buyers. “One hundred percent. We think that art adds a lot of significance to all the spaces for buyers,” Rosso says. “Public spaces have no meaning unless you put some art there.”

Patricia Hanna, the Related Group’s art director, goes even further, explaining that art isn’t just a bonus anymore—for many, it’s come to be expected. “People look forward to what art they’re going to have in their building, and I think it’s become kind of a hallmark of what we do,” she says, adding that buyers “become part of owning a curated collection” when they purchase a unit at the Paraiso District.

Art increases connection, and perceptions of value

Many property commissioned artworks pay homage to their site and the culture of the area. Sarah Daly, the artist behind Daly & X, creates art for high end residential properties. She believes art creates a sense of connection to place and serves as a link between the built and natural environment. “Art helps people feel relaxed and part of a well considered space, and yes, it definitely adds to their perceptions of how valuable a property is.” There is a long standing link between art and luxury environments, and including high quality art in developments can be an affordable way to increase the property value.

Daly & X is a Brisbane-based art studio that creates art to help property developers differentiate. For developers, art can contribute to luxury purchase cues, an increased volume of buyers, reduced time to sell, and enhance the long-term value of a property. We understand your commercial needs and create engaging work, on time and to budget. Reach out to find out how to commission art for your development.

Quotes sourced from:

https://www.mansionglobal.com/articles/luxury-developers-get-serious-about-art-42747

https://www.domain.com.au/living/why-art-installations-have-become-an-expected-feature-in-urban-developments-20151208-gliet6/

https://www.architecturaldigest.com/story/art-is-the-new-real-estate-amenity