Creating ‘The Elevation Club’

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How we win an ever-escalating amenity and unit arms race and protect ourselves against future competition

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PCP’s North Star: Lifestyle Amenities

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Lifestyle is fundamental in where we choose to live, and location is a core tenant of real estate investing. Our book ‘The 6th Migration,’ explains demographic trends driving growth in certain geographies. By recognizing the power of these broader trends, PCP aims to maximize returns through developing a comprehensive, hard to replicate, exceptional lifestyles in our portfolio of communities to create powerful and enduring network effects.

 

There is a powerful trend of people embracing lifestyle markets and new urban centers. The rise of remote and hybrid work environments afford flexibility for talented individuals to place greater importance on where they choose where they live. We align our product with their affinities and their incomes, providing unique differentiation within our markets, resulting in attractive investment returns.

 

In a competitive marketplace, innovative amenities and good unit plans will eventually be copied and become table stakes for the next generation of development. Witness the proliferation of stainless-steel appliances, quartz countertops, co-working lounges, resort style pools, and open style unit plans with attractive finishes in bathrooms and kitchens. We need to prepare for the day when today’s unique offerings like free coffee from the in-house barista and a gear garage will eventually be offered by competitors.

 

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