Murals & Houston Commercial Real Estate
A Viable Tactic to Increase Foot Traffic, Property Value & Community Good Will?
In particular in transitional, industrial and commercial areas, the mural trend is repurposing empty walls, providing value to business owners, and creating new life in less inhabited areas. Here we explore potential benefits of this trend and Houston murals that are making an impact.
Business Value: Foot Traffic, Property Value & Free Marketing
By no means a new concept, the use of murals by urban commercial developers as a tactic to increase foot traffic and property appeal is increasing. Murals have been proven to attract visitors and locals alike.
They have also been attributed to increased property value. According to a study conducted in the United Kingdom, “neighborhoods that have a higher proportion of urban art such as murals, outdoor sculptures or even local art events,” have experienced increased market value over time.
Social media and art enthusiasts alike, and in particular Millennials, actively search for murals to post on social media, increasing foot traffic and hopefully revenue for nearby retailers. Their social media posts are a free form of advertising for businesses and they attract other visitors to come and see the art work for themselves. In particular for businesses that wish to attract the millennial demographic, the mural trend is one to consider.
Photos: Maria Gallegos
Murals in Houston
In Houston alone, there are over one-hundred murals around the city, and more are being added. Recently in Downtown, five murals were painted on the exterior walls of the Fulbright Tower on McKinney Street.
Gelazzi, a gelato ice cream shop in the Heights, has tourists and locals stopping by to take pictures with their Greetings From Houston mural. After capturing a picture of the work of art, visitors will pop in their store and try their desserts.
Photo: Maria Gallegos
Greetings from Houston by Daniel Anguilu
The Silos at the Sawyer Yards converted warehouses into an art hub and features exterior murals. Due to its increasing popularity, the property continues to expand. Sawyer Yards recently added a new location on Sabine Street with over 48,000 square ft and sixty-seven retail spaces ready to be rented by tenants.
Houston is Inspired, located in downtown’s historic Market Square, is one of the most famous murals in Houston. It was painted by iconic graffiti artist, Mario Figueroa Jr, also commonly known as Gonzo247.
Community Goodwill & Quality of Life
According to Biznow, murals have become increasingly popular because they not only advertise a business, they also provide benefits for cities and their communities. In particular for transitional areas, murals can provide a transformative impact.
In commercial and corporate spaces, murals may increase quality of work environment for tenants. According to an article in Forbes, art can “actually increase employee efficiency, productivity, and creativity.”
Photo: Maria Gallegos
Houston is Inspired by Gonzo247
The opinions expressed by Garrison Construction Group, LLC do not necessarily reflect the opinions of featured projects or of resources cited within this post .