Culture as a driver in a commercial context

Amsterdamse Poort shopping centre in Amsterdam Zuidoost was facing a fundamental transformation. Once a vibrant and culturally diverse retail destination, the centre had gradually experienced increasing vacancy, a dominance of chain retail and declining appeal. Owner CBRE Investment Management set out to reposition the Poort as the ‘Big Heart’ of Zuidoost: a place that delivers value for the local community while attracting visitors from beyond the district.

Within this new vision, culture was introduced as a structural function. Not as a temporary solution to vacancy, but as a long term driver of identity, safety, footfall and area value.

In 2019, we were engaged as strategic adviser and process facilitator to help make this culture driven development possible and to embed it in partnerships, spatial choices and financial agreements.

The challenge

This assignment brought together two worlds that do not naturally operate as equals: institutional real estate and emerging cultural organisations.

For CBRE IM, introducing culture represented a strategic shift. The social value was evident, but the short term financial return was less immediately visible. Internally, the team needed to demonstrate convincingly how culture contributes to footfall, safety, identity and overall area value.

For OSCAM (Open Space Contemporary Art Museum) and the hip hop centre Foundation, a permanent location required a significant step in professionalisation. Both organisations were familiar with the fragility of temporary lease arrangements. Moving towards a long term partnership required trust, transparency and genuine equality.

The central question became clear: how can culture be embedded structurally within the area development in a way that is meaningful in content and financially viable for all parties involved?

Our approach

We guided the process as an independent connector between the real estate and cultural partners.

The first step was to develop a shared language. Real estate typically speaks in terms of performance, returns and risk. Culture speaks in terms of identity, community and meaning. By making interests and motivations explicit, mutual understanding emerged and space was created for a shared ambition.

Together, we defined the desired profile of the place. What should this cultural core represent for Zuidoost? How should it relate to retail and other functions? Which social and economic values should converge here? This shared ambition became the compass for all spatial and financial decisions.

New build was initially considered. However, as the process evolved, new insights emerged. Through scenario modelling and careful spatial analysis, the transformation of existing buildings at a prominent, highly visible location in the heart of the Poort proved to be the stronger and more financially viable option. This approach reduced investment costs, accelerated delivery and maximised visibility for the cultural partners.

The transformation is being carried out as circularly as possible. Reuse of materials and smart adaptation of the existing structures align closely with the identity and values of OSCAM and Foundation. In this way, the building itself becomes part of the story of the place.

In parallel, we worked on the financial foundation. CBRE IM deliberately adopted a cultural rental model, based on the conviction that the value created by culture translates into broader area value. For OSCAM and Foundation, we supported the development of a more robust funding mix, including structural subsidies, own revenue streams and strategic partnerships. The result is a jointly developed business model in which social impact and economic reality are carefully balanced.

Throughout the process, equality remained the guiding principle. Not a traditional landlord tenant hierarchy, but a genuine partnership. By investing time in understanding each other’s worlds and jointly steering towards long term success, culture was not temporarily inserted, but structurally embedded.

“Rinske created the mutual understanding that enabled us to work from a true partnership towards a sustainable cultural destination in Amsterdamse Poort.”
Lieske van Pelt, CBRE Investment Management

Impact

What began as a temporary response to vacancy has evolved into a sustainable cultural cluster at a prime location in the heart of Amsterdamse Poort.

Both OSCAM and Foundation have secured permanent homes based on a jointly developed and financially viable model. The decision to transform existing buildings rather than pursue new build demonstrates that culture driven development can be not only ambitious, but also pragmatic and deliverable.

Within CBRE IM, culture has shifted from experiment to strategic instrument in area development. The presence of OSCAM and Foundation strengthens the identity of the Poort, attracts new audiences and contributes to a more vibrant and safer environment.

Here, culture is not deployed as temporary placemaking, but embedded as a structural driver of area development, supported by collaboration between real estate, cultural organisations and the local community.

Curious how culture could strengthen your area? We are happy to think along with you. Send us an email to start the conversation.