Renovations of older buildings in U.S. cities recently hit a record high as reflected in architecture firm billings, according to the American Institute of Architects (AIA). As of spring 2022, the majority of billings came from retrofit work, not new construction. It’s the first time in the 20 years AIA data has shown that renovations have surpassed 50%, Bloomberg reports.
In 2005, as a pre-recession building boom neared its end, renovations composed about one-third of billings. That share has been increasing steadily since 2017, when it was 44.4%, and has risen to 52% this year.
Kermit Baker, AIA's Chief Economist, says that the last time the market was so heavily weighted toward renovations was likely during the Great Depression.
One quarter of renovations are for conventional interior modernizations and upgrades, and another quarter are adaptive reuse projects that change the function and program of a building. New tenant fit-outs comprise 17.8% of renovations.
Related Stories
| Feb 17, 2012
Tremco Inc. headquarters achieves LEED Gold certification
Changes were so extensive that the certification is for new construction and not for renovation; officially, the building is LEED-NC.
| Feb 16, 2012
Summit Design + Build begins build-out for Emmi Solutions in Chicago
The new headquarters will total 20,455 sq. ft. and feature a loft-style space with exposed masonry and mechanical systems, 15 foot clear ceilings, two large rooftop skylights and private offices with full glass partition walls.
| Feb 15, 2012
Englewood Construction announces new projects with Destination Maternity, American Girl
Englewood’s newest project for Wisconsin-based doll retailer American Girl, the company will combine four vacant storefronts into one large 15,000 square-foot retail space for American Girl.
| Feb 14, 2012
SAIC selected for architectural and engineering design services at Lajes Field, Azores
SAIC’s services will include a broad variety of new construction projects and maintenance and repair projects
| Feb 8, 2012
World’s tallest solar PV-installation
The solar array is at the elevation of 737 feet, making the building the tallest in the world with a solar PV-installation on its roof.
| Feb 6, 2012
Kirchhoff-Consigli begins Phase 2 renovations at FDR Presidential Library and Museum
EYP Architecture & Engineering is architect for the $35 million National Archives Administration project.
| Feb 2, 2012
Fire rated glazing helps historic university preserve its past
When the University embarked on its first major addition since the opening of Hutchins Hall in 1933, preserving the Collegiate Gothic-style architecture was of utmost importance.
