Steve Cardinalli’s Post

In the ever growing tenant attraction and retention wars of amenity planning for commercial residential properties, the king of the jungle has been fitness centers/on-site gyms, and for good reason. They, 😊Promote happiness and wellbeing 💵Save costs and hassle of going to a commercial gym 🏪Adds convenience to the daily routine However, they are not without drawbacks. At an average starting cost of $3M, the total investment is quite hefty. Let’s see how the math breaks down on breakeven. On average, each retained resident is worth ~$900 per year in addition to their annual rent payments, while the turnover cost is ~$4000. That near $5k means the gym needs to directly generate a little over 600 renewals. As gyms have become a standard in development and conversion projects, all those numbers become moot, the cost of doing business, not a differentiator. So what is? A tenant-exclusive, premium eBike and/or eScooter share of course. For the exact same value props of a fitness center, an active transportation amenity costs less than 2% the CAPEX and affords residents the opportunity to connect with the community outside the confines of their residence. This alone has shown the ability to boost local retail sales 4-5%. As the national leader in deploying such valuable amenities, it’s no surprise that Ridy’s users–your tenants–boast a 98% satisfaction rate with our service. #RealEstate #Multifamily #UrbanLiving #UrbanDesign #eBikes #eScooters #Micromobility

What makes a successful sports-entertainment district? A critical mass of residents, workers and visitors to create a 24-7 neighborhood that justifies mobility and infrastructure investment. A seamless fan experience that integrates shopping, dining and other entertainment uses, turning 2-hours of engagement into 4+ hours of engagement. Mobility choice to allow fans to have a variety of customer journeys. De-emphasize private cars and emphasize walkability. A multi-use stadium with interior and laminated shopping and dining, in this case with a multi-modal transit station at street level and shopping and dining at street and terrace level. Access to open space and green corridors for secondary event experiences and to create a complete and connected community. An authetic and tiered engagement process to understand what the community wants and needs. A process of co-creation so decision-makers and stakeholders have shared authorship. #placemaking #sportsentertainment #masterplanning #retaildesign #mixeduse #liveworkplay #mobility

Why settle for standard when your residents crave tailored living experiences? From premium kitchen upgrades to fitness center enhancements, personalized amenities are the key to attracting and retaining tenants in a competitive market. Discover how customization can transform your property: https://lnkd.in/eyU_Ehwu 💡 It’s time to stand out where it matters most.

"If you do it for money, it's business. If you do it for yourself, it's art" - Rick Rubin Absolutely love this quote, however, I consider real estate development a unique combination of both business AND art. One of the goals of developing a real estate project is to turn a profit. Beyond that, major real estate developments help redefine how locals and visitors live, work, eat and play, while also enhancing the quality of life and reshaping the overall city/market. This is where the artistic vision comes into play. It's like real life Rollercoaster Tycoon. When I first toured AREA15 back in 2021 with Winston Fisher, the visionary himself, it was incredible learning about the creative plan he was implementing. Fast forward 3 years, the development has taken off, is outperforming expectations in terms of sales and visitors, and now we're partnering with major brands such as Universal Studios Hollywood to implement unique, first-to-market concepts in the next phase expansion. Similarly, back in 2018 when I met Dimitri Lalagos, Sandi Danick and learned about Don Ghermezian, Roy Ghermezian and the rest of their family's ambitious vision for American Dream, while looking at the giant pile of dirt it seemed like a pipe dream. The more I learned about the project and vision, the more I drank the kool aid and wanted to help prove that the impossible could be done. Many thought it would never open, let alone bring millions of visitors per year. Now after delays, a global pandemic, economic challenges and lots of uphill battles, the project is thriving and is a brand new environment that locals and visitors can create life-long memories with the people they love. These visions all started inside someone's brain, and then they brought them to life through years of hard work from hundreds of companies collaborating. That is most definitely art in my opinion. Super grateful to be able to work alongside and learn from legendary individuals and organizations who are creating the most exciting, dynamic environments for people to dine, shop, explore, socialize and enjoy life. TLDR- Development is an art form. #Development #CommercialRealEstate #RealEstate #Restaurants #Shopping #Entertainment #CityShaping

With 2024 drawing to a close, Florentia Village Luxury Designer Outlets of the Italian Real Estate Entity RDM announced remarkable results, demonstrating continued growth. Seven Florentia Village outlets in mainland China and Hong Kong have achieved a combined annual sales of more than RMB 13.5 billion, a year-on-year increase of 2%. Total footfall reached 27 million, an impressive 8% rise compared to the previous year. Membership of Florentia Village also experienced a substantial increase in 2024. Its total number surpassed five million in March 2024 and reached six million by year-end, representing a remarkable one million increase. This success reflects the synergistic effect of multiple innovative initiatives implemented throughout the year. The hosting of cultural events, including the Marco Polo 700th Anniversary Exhibition and the FV Carnival - a collaborative project with Italian artists - allowed Florentia Village to effectively showcase Italian culture and further its role as a facilitator of cultural exchange between China and Italy. Themed events, including an Autumn Sports Week and Christmas Celebrations, successfully established Florentia Village across China as appealing seasonal micro-vacation destinations. A strategic partnership with Trip.com Group enabled Florentia Village to expand its digital marketing reach, resulting in the acquisition of high-value customers and the sustained growth of sales. Furthermore, Florentia Village continued to improve and innovate in terms of membership services. The official mini-program incorporates a suite of convenient features, including parking reservations, event bookings, and family activity reservations. With family-friendly facilities, convenient hands-free shopping, pet strollers, and valet parking, Florentia Village outlets provide a high-quality lifestyle destination that seamlessly combines shopping, leisure, and family entertainment. Over the past 14 years, Florentia Village has cultivated a presence in seven Chinese cities, establishing itself as a prominent player in the outlet market through its distinctive Italian aesthetic and exemplary operational capabilities, achieving significant success in 2024. As it embarks on this next chapter of development, the Italian real estate development group RDM will continue to steer Florentia Village towards local market integration. Through innovation-driven growth and forward-looking strategies, the group is committed to generating long-term, robust returns for its investors.

Boost your rental property's appeal and marketability by adding sought-after amenities. Consider high-speed internet, in-unit laundry, or a fitness center. Small upgrades can significantly increase desirability and rental rates. Elevate your property today! 📈🏡 #TenantSatisfaction

Boost your rental property's appeal and marketability by adding sought-after amenities. Consider high-speed internet, in-unit laundry, or a fitness center. Small upgrades can significantly increase desirability and rental rates. Elevate your property today! 📈🏡 #TenantSatisfaction

If everyone is so accustomed to searching and booking everything online… things like booking hotel rooms on Tripadvisor, searching for cruises on Booking.com, reserving airfare on Priceline, renting vacation housing from Airbnb, searching on Zillow for homes for sale, looking for apartment rentals on Apartments.com, finding office space for lease on OfficeSpace.com, etc., why hasn’t our retail real estate industry developed a better way to inventory available space for lease so that retailers and brands can search the availability, prices and so forth? I think Regency Centers is on the right track here with the Spacewise platform. Follow link for ICSC report on the subject. Is anyone else doing anything like this on real time?

🥊 Showdown Wednesday: Amenities vs. Facilities When it comes to real estate, both amenities and facilities play crucial roles in enhancing property value and improving the quality of life for residents. But what's the difference, and which one holds more weight in your decision-making process? Let's break it down! 🛋️ Amenities refer to the extra features that add comfort, convenience, and enjoyment to a property. These can be located within individual units or as part of the community. Examples are: • Swimming pools 🏊♂️ • Gyms 💪 • Clubhouses 🏠 • Spa services 💆♀️ • Rooftop gardens 🌿 By offering an increase in property value, enhanced lifestyle and leisure options, and attracting potential buyers or renters, this property provides significant advantages. 🏢 Facilities, on the other hand, are the essential infrastructure and services provided within a property or community that ensure safety, functionality, and everyday convenience. Examples are: • Parking lots 🚗 • Security systems 🔒 • Elevators 🛗 • Maintenance services 🧹 • Waste disposal systems 🗑️ So basically, ensuring smooth daily operations, safety and security, and consistent maintenance and upkeep of the property. Verdict? While amenities add a luxurious touch and elevate the living experience, facilities provide the backbone that supports day-to-day living. Both are equally important and complement each other in creating a well-rounded and desirable property. 🤝 🤝 #ShowdownWednesday #HorizonVista #DubaiRealEstate

Transforming Hospitality in Florida: Driftwood Capital’s $257M Investment 🌴 The hospitality industry is abuzz with Driftwood Capital’s recent announcement of a $257M financing package to develop the highly anticipated Westin Cocoa Beach Resort & Spa. This transformative project will redefine Florida’s hospitality landscape, blending coastal luxury with innovative design and world-class amenities. This bold move highlights the continued evolution of experiential hospitality—where destination, design, and guest experience merge seamlessly. For brands like Driftwood, it’s not just about luxury; it’s about creating immersive environments that resonate with travelers seeking more than just a place to stay. 💡 Key Takeaways for Hospitality Leaders: 1️⃣ Purpose-Driven Design: Guests value spaces that evoke connection and tell a story. How can your property design go beyond aesthetics to deliver meaningful experiences? 2️⃣ Destination Integration: Westin Cocoa Beach will embody its coastal surroundings. Aligning your brand with its location builds authenticity and deeper guest engagement. 3️⃣ Financial Confidence: A deal like this underscores the resilience and growth potential of the hospitality sector. How are you positioning your brand to attract high-value investment? At The Brand Amplifiers, we understand the importance of balancing storytelling and strategy to drive brand loyalty and ROI. From design narratives to client-centric marketing, we help hotels amplify their unique voice in an ever-competitive market. Your Move: How are you preparing your brand for the next wave of hospitality innovation? Let’s create experiences that resonate. https://lnkd.in/eTfD-rxR #HospitalityNews #WestinCocoaBeach #LuxuryHotels #BrandPositioning #ClientExperience #TheBrandAmplifiers