Water Features Enhance Property Value

Water features are becoming a popular amenity at multifamily, office and retail properties. They have the ability to increase ROI, property value and the length of stay or tenancy at a property, according to OTL, a water feature design and construction company. In fact, many of these properties can leverage water features as a built-in marketing tool, according to the company.

“Adding a beautifully crafted water feature to a mixed-use or retail property automatically attracts people, as individuals are typically drawn to the aesthetic of these amenities. Humans have a natural affinity for water due to its mood-lifting, health-promoting and de-stressing effects,” J. Wickham Zimmerman, CEO of OTL, tells GlobeSt.com. “Multifamily, office, mixed-use and retail properties containing water features deliver these benefits directly to people where they live, work, shop, or gather.”

These features can become a marketing tool because they serve as a property focal point. As a result, people actually seek out these properties. “These water elements can also serve as a focal point for reflecting or even capturing photos for social media, making them a built-in marketing tool for these properties,” says Zimmerman. “In fact, while people initially come for the property, they will often stay for the exquisite, artful fountains, waterfalls, ponds, and rockwork. In lingering longer, customers are also more likely to visit nearby shops and restaurants and ultimately increase their purchases at these properties.”

One example is a four-fountain feature at Halo in Downtown Los Angeles’ Bunker Hill neighborhood. The property is in the former Wells Fargo Center Downtown Los Angeles, and went through a complete renovation. “During the redevelopment, we were called in to complete a series of artfully inspired water features as part of the renovation of an existing sculpture garden located in the outdoor courtyard at Halo,” Zimmerman. “Called Graham Garden, the atrium features sculptures created by late artist Robert Graham. We coordinated closely with top-tier landscape architect GGN, the artist’s son Stephen Graham, and the project’s cultural and fine art coordinator Karen Amiel to design and build four architectural fountains to serve as bases for the garden’s gymnast-themed bronze sculptures.”

These features can also serve as a way to incorporate public art into projects in Downtown Los Angeles. “These gorgeous sculptures, which were originally part of CRA/LA’s mission in 1985 to incorporate public art in redevelopment projects and revitalize Downtown Los Angeles, are now enhanced with the custom-designed fountain bases and will likely draw in crowds from surrounding areas, ultimately increasing ROI and enhancing the property’s value,” says Zimmerman.