Vibrant downtowns, and shifting, regenerated suburbs, often include thriving arts, cultural, and entertainment facilities and districts which lure visitors from local neighborhoods and the surrounding region. In many cities and towns, the art, cultural, and entertainment scene has served as a catalyst for revitalization, attracting retail, restaurant, and other uses that benefit from arts, culture, and entertainment patrons.
Vantage Point Real Estate Development Management, LLC and its senior staff have offered guidance to numerous communities regarding suitable types of arts, cultural, and entertainment venues for downtown districts and for specific properties which are often historic venues. With our extensive background working in cities and towns throughout the nation, we understand that each district is uniquely positioned and functions as a sum of its parts. Often the districts help develop and promote community involvement, tourism and revitalization through tax-related incentives that attract artists, arts organizations and other creative enterprises.
As such, our analyses consider the propensity of the local and regional market to patronize these particular types of venues, and our analyses evaluate market synergies among arts/cultural/entertainment and other neighboring uses. In fact, our home state of Maryland was the first state in the country to develop an arts and entertainment district program on a statewide basis. With our strong background conducting development feasibility and adaptive reuse analyses for these districts, Vantage Point Real Estate Development Management, LLC is uniquely qualified to delineate strategies to invigorate populous areas with an appropriate mix of arts/culture/entertainment and other appropriate uses. Time and again, it has been proven that arts and entertainment districts have a “spillover effect” that creates livelier, desirable places to live and work, which in turn even attracts businesses and creates jobs that are not necessarily related to the arts.