Urban Infill Condominiums

Posted on Mar 2, 2012

Urban Infill Condominiums

A regional homebuilder sought to boost prospective homebuyer traffic and sell a targeted number of finished homes to wrap up sales at an urban infill condominium community. Positioned as a first-time or second-time home purchase, the homes were designed with urban professionals in mind in a contemporary architectural style. The community had a dedicated sales office, an advertising plan, a directional sign program, and a web link through the builder’s main website, all put into place upon opening several years before.

Challenge

The community construction was complete, and the building had standing and available inventory homes to sell. Traffic had declined and sales slowed. Finding the community from driving directions was challenging, at the convergence of a number of streets and in a setting of artist’s studios and warehouses. The builder wanted to sell a select number of remaining homes, but keep the solution very affordable.

Solution

To understand the opportunity to drive more traffic and convert more sales, a comprehensive assessment of marketing elements and their match to the ideal target customer was conducted. The results, together with the need to draw attention the mature community, presented opportunities to create a stronger ideal target customer appeal and close customer disconnects. The sales office, the model merchandising, the marketing and sign programs were targeted for repositioning, to better connect with the ideal target customer for the community: the younger urban professional.

The sales office was refreshed to emphasize neighborhood and community, recycling existing elements and using high-impact, affordable solutions to exhibits and graphics, providing the sales team with the sales path and tools they needed to create a stronger presentation. The staging was removed and the models redecorated. The new model merchandising was selected to appeal to an urban homebuyer using modern color schemes, locally available furniture and accessories from popular retailers, painted accent walls and simple wall treatments, demonstrating style and furnishing schemes in the one and two bedroom homes that any homeowner could do themselves, created for $14/square foot. Furniture and accessory guides were created to show homebuyers where to purchase the furniture and accessories to recreate the look. The models were so appealing, not only were they effective in demonstrating the homes to prospective customers, current homeowners stopped by to get decorating tips for their homes, too.

To stand out from the urban environment, a vibrant color theme and contemporary living images were selected for the marketing campaign, appearing in a dedicated website, signs and advertising.

The combined results achieved the builder’s goals. Most effective at driving traffic was the new sign program. Where the original signs blended into the urban landscape, the shock of orange in the new marketing color scheme stood out and was noticed.

Results

  • Traffic increase, peaking to community grand opening numbers.
  • Sales increased, meeting goals for the community.
  • Sales and marketing concluded.