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 | Oct 26, 2016
Design industry lagging in meeting AIA 2030 Commitment goals, says AIA
Only 4% of projects have met the 70% energy savings target.
Codes and Standards | Oct 25, 2016
Concerns over megaquake in Oregon provoke debate over school building standards
According to advocates, communities should consider increased resiliency.
Codes and Standards | Oct 24, 2016
Building energy codes projected to save $126 billion in energy costs from 2010-2040
Commercial and residential structures are both included in the total.
Codes and Standards | Oct 24, 2016
Fall hazards, hazard communication lead 2016 OSHA top violations
The 2016 list bears a strong resemblance to the 2015 list.
Codes and Standards | Oct 21, 2016
Green Bond Guidelines for the Real Estate Sector updated
The market growth is a signal of future opportunities.
Codes and Standards | Oct 20, 2016
What top-ranked energy efficiency states are doing right on codes, utility mandates
Calif., and Mass., use aggressive targets to lead nation.
Codes and Standards | Oct 20, 2016
New cross-laminated timber fire tests back proponents of high-rise wood structures
'Demonstrating for the first time the feasibility of tall mass timber buildings in the U.S.’
Codes and Standards | Oct 14, 2016
ASCE issues first tsunami-safe building standards
The new standards will become part of international building code.
Codes and Standards | Oct 12, 2016
Making concrete greener
The high energy-consuming material can be made more sustainably.
Codes and Standards | Oct 11, 2016
Historic preservation moving beyond saving grand old buildings
National Trust for Historic Preservation CEO says the focus is on saving cities, not just buildings
