In today’s commercial real estate market, artwork can no longer be an afterthought. Custom artwork, if executed properly, holds the key to placemaking that keeps people in your building. In this post, we will explore what CRE Developers overlook when planning for art on their projects.
📍Developers wait too long to start planning for artwork. It takes time to cost-effectively acquire large statement art. By the time you engage an art consultant, they research artists, you finalize your art selection or have multiple artists create proposals to help you decide, three months could go by.
Engaging an art consultant during the design phase of your development gives you the best chance of finding availability from the artist you want at the most cost-effective rate. If you only want framed artwork, 4-6 months is a reasonable lead time for the most cost-effective acquisition.
📍Developers don’t include a separate line item for art in their budget. This is a big mistake because it means you’re waiting until the FF&E (furniture, fixtures, and equipment) procurement phase to begin planning for art acquisition. Development teams often find the money for art has run out, or there’s not enough money for art that makes the impact they want.
📍 Developers forget art can be a selling point for their property.
📍 Developers forget to give their interior designers this valuable resource. An art consultant has deep knowledge and resources in one area—art. When designers can delegate the art procurement process to an art consultant, it’s a far more productive use of their time and everyone wins. Especially the developer who is getting the best art for their development in the most cost-effective way possible.
📍 Developers wait until they’re planning the grand opening. To get the right art for your property, you must begin planning for it as you’re planning the development itself.
Contact us at hello@kefiartgallery.com and our knowledgeable Art Consultants will happily provide a complimentary consultation as a starting point for your selection and acquisition of original fine art. ✨
