CONSTANTINE A. VALHOULI
How do you turn a neighborhood into a destination?
RARELY ARE NEIGHBORHOODS thought of as brands. Place names are neither tangible assets that can be owned nor intellectual property that can be trademarked. A neighborhood name, like any brand, is an ever-changing bundle of perceptions in a consumer’s mind. Yet, place brands can influence decisions that affect the bottom line: Are consumers aware of the neighborhood, or do they need to be educated about it? Does the neighborhood provide commodity housing, or does it have a distinct identity? Is this a desirable identity? Does this identity command a premium that adds to market value, or is a negative perception of it depressing real estate values? Real estate is typically the singlelargest purchase consumers make in their lives-and by dollar amount alone, it could be considered the ultimate luxury (or the most expensive necessity). And just as with luxury brands, a desirable neighborhood brand reinforces how consumers see themselves and how they would like to be perceived by others. Are people living in the neighborhood because they have to, or because they want to? To what extent do prospective residents identify with other “users” of the brand?
Repositioning a neighborhood brand goes hand in glove with gentrification. While developers, speculators, and homeowners can improve individual buildings or blocks, these improvements typically are not enough to change the public perception of an entire area. With emerging neighborhoods, managing the place brand can create allure for prospective buyers and tenants in two ways: by generating awareness of a place’s good qualities, and by dissociating the neighborhood from its former negative identity. If successful, these efforts result in a positive place brand that can generate increased sales, higher prices, and a shorter sales cycle because consumers are more informed, thus creating greater profits for stakeholders. Rebranding or repositioning a neighborhood may fait if it creates expectations that a place cannot fulfill, or that can generate a backlash if it is not based in how residents perceive themselves.
As with any brand, a neighborhood identity is an implied promise. Gentrification occurs in stages, and there are (”Nothing going on there.”). These perceptions typically emerge from years of news coverage focused on crimes, or from “conventional wisdom” passed through word of mouth, but rarely from firsthand experience. Negative perceptions of an area often outlast the reasons for those associations. Usually, there is a lag in coverage between a gradual reduction in crime and the start of gentrification. Boston’s Savin Hill is now known primarily for its Victorian homes, but it took years to shake the “Stab-and-kill” nickname.
Similarly, development many stories of disgruntled residents who feel “betrayed” when a place’s amenities have been hyped beyond the stage of gentrification. Brands are about relationships and trust, and are reinforced by word of mouth. Buzz can boost awareness of a neighborhood’s good qualities and desirability, but can just as easily reinforce negative stereotypes about an emerging neighborhood.
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