Amid uncertainty about how an extended trade war could affect the price of construction materials and boost the cost of new construction, adaptive reuse may be an increasingly attractive option.
With the costs of building new rising, new research by the Alabama Center for Real Estate found that adaptive reuse projects cost as much as 15% to 20% less than a new construction alternative. In order for adaptive reuse to work, though, flexibility is required in zoning and approval processes such as parking and density requirements.
Many cities have made these regulations more flexible for adaptive reuse projects and their efforts serve as a blueprint for smaller communities where these projects may now be more economically viable. Also making adaptive reuse more attractive is a desire by both Millennials and Baby Boomers to live in urban areas.
There is a scarcity of developable land in many urban areas, so repurposing existing structures can be a great way to create additional housing.
Related Stories
Codes and Standards | Nov 6, 2018
AIA releases 13 new and updated contract documents
Includes new Contractor-Subcontractor Master Agreement.
Codes and Standards | Nov 2, 2018
New Milwaukee Bucks home called world’s first bird-friendly sports arena
Design will make bird collisions less likely.
Codes and Standards | Nov 1, 2018
Several barriers holding back widespread construction of zero energy buildings
Code improvements and voluntary programs could add momentum.
Codes and Standards | Oct 31, 2018
Boston’s new flood protection plan centers on new parks
Initiative would add 67 acres of public open space.
Codes and Standards | Oct 30, 2018
San Francisco plans tougher seismic building codes
Recommendations include addressing geotechnical issues like those faced by Millennium Tower.
Codes and Standards | Oct 26, 2018
Tall Mass Timber code proposals approved at Intl. Code Council public comment hearings
Proposals now go to online voting; final outcome expected in December.
Codes and Standards | Oct 25, 2018
Low-income neighborhoods could benefit most from green roofs
Those areas face the biggest risk from extreme heat.
Codes and Standards | Oct 24, 2018
Building design critical to prevent school shootings
Safety must be balanced with welcoming environment.
Codes and Standards | Oct 23, 2018
Codes in Florida Panhandle made buildings vulnerable to Hurricane Michael
Less stringent codes in northern parts of state linked to devastation.
Codes and Standards | Oct 19, 2018
Global Green Tag production certification standard will launch in U.S. at end of year
Australian program recognized by WELL, claims compliance with LE.