Overcoming a Crisis: A North Miami Real Estate Makeover
September 22, 2014
The story of One Fifty One at Biscayne is one of the transformation of a condominium and a community. In less than six months, the North Miami development has gone from two under-performing towers with reputation issues to a luxury condominium destination and an extraordinary opportunity for buyers.
BoardroomPR was brought on to release positive news about the project, but our real estate PR pros had to mitigate the stigma of the property’s infamous history. The two towers, located just off Biscayne Boulevard and NE 151st Street, were built on a former EPA Superfund site. Even though the land was cleaned up and posed no health hazard, potential buyers still had concerns about contamination. In addition, Oleta Parners, which was developing the nearby Biscayne Landing mega-project, was accused of bringing contaminated soil to the land. Press releases and other documents were disseminated as part of an intensive reputation and crisis management campaign to educate the public and improve the project’s image. Part of that reputation management campaign included:
• Creating a Myth v. Fact Sheet. We spelled out what all the myths of the property were and followed up with what the true facts were.
• Distributing press releases that dispelled all the mis-information. These press releases included information from city meetings in which scientists and environmentalists were brought in and clearly stated the property did not pose any health concerns.
• Creating a series of “Frequently Asked Questions” for potential buyers. The FAQ focused on topics like the land lease on the building, the nearby water treatment facility and the issue of the former landfill. Each topic was carefully researched and accurate information, supported by science and experts, was distributed to buyers.
• Writing a new Wikipedia page. The page outlined all the correct information about the property.
• Implementing an intensive ONLINE reputation management campaign. This campaign was designed to move down old negative news stories in search engines and replace them with more favorable reviews of the property.
The PR efforts generated news coverage in traditional print, online and broadcast media outlets. Those stories were then shared on various social media channels set up to reach both brokers and potential buyers. Social media was a vital tool to communicate the rebranding efforts and keep the public updated on news about the property and the surrounding area.
By presenting a carefully crafted brand and message to the community, The DevStar Group, who was hired by iStar Residential to handle the sales and marketing, SOLD OUT the building in just six months.