The Paint Factory Placebook - Report - Page 41
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The concept behind The Paint Factory also moves residential
development closer to the aspirations and habits of a new
generation of residents. As we move from a consumer
economy to an experience economy,
people are looking for places defined by
authenticity and character, places that
have grown organically,
with characteristics and attractions born and bred locally,
things with an “in the know” element to them.
Millennials are far less interested in acquiring things and more
interested in seeking experiences than previous generations.
For developers, this means providing a level of experience
traditionally only provided by historic or organically evolved
post-industrial neighbourhoods. At The Paint Factory this
experience is already in place. But the benefits go both ways.
By building a residential community alongside the arts, a
sustainable economic model can be created that ensures the
long-term prosperity of the creative activities.
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