28 Oct Measuring the value of place – Walking the Talk at Mindeerup Piazza
The places we design involve huge financial investments (generally funded by the taxpayer), so it’s critical to measure their success against the objectives of our clients. With our place-based design philosophy and passion for creating unique experiences, PLACE Laboratory has an interest in ensuring we ‘walk the talk’ by measuring the place value and success of our completed projects.
How do we measure the value and benefit of a place?
Traditionally, the success of a development might have been measured in economic terms. Or the number of awards it has received. But from experience, these measures are often not a true reflection of a place’s success.
We partnered with leading analytics company Place Intelligence to undertake a post-occupancy evaluation of our multi-award winning projects using big data to test if they live up to our “great place” mantra.
The good news is that they did! Here is a snapshot of key findings from the Mindeerup Piazza.
- Overall there has been 100% increase in utilisation since it first opened;
- Visitation has increased not only in the peak season, but also in the off season indicating that the ‘peak season’ broadened.
- Predictably, 2020 numbers have been impacted by COVID-19,
however the percentage footfall for each month from 2019-May 2021 shows that patronage is steadily increasing.
- The percentage of total footfall for each year, demonstrates a steady increase in patronage.