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 | Dec 13, 2015
Los Angeles launches ‘Drop 100′ campaign to reduce water use in commercial buildings
Goal is to save 100 million gallons annually.
Codes and Standards | Dec 1, 2015
More than 50 design, construction, and real estate firms urge action on climate change
Call for policymakers to move on one of the ‘greatest economic opportunities of the 21st Century’
Codes and Standards | Oct 26, 2015
Chicago suburb considers bird collision deterrent requirement on all new buildings
The rule would mandate that new commercial, multifamily structures comply with LEED pilot program.
Codes and Standards | Oct 16, 2015
Anchorage may raise building height restrictions that would block precious winter sunlight
Controversial measure is part of plan to spur development.
Codes and Standards | Oct 16, 2015
Appellate court enacts nationwide stay on controversial expansion of Clean Water Act
New EPA rule suspended until court cases settled.
Codes and Standards | Oct 9, 2015
New California law means commercial building benchmarking program will be implemented
Multifamily housing to be included, a first for a U.S. state.
Codes and Standards | Oct 2, 2015
New ASHRAE guideline for commissioning existing systems and assemblies
Focuses on optimum facility and system operation.
Codes and Standards | Sep 18, 2015
New RELi standard addresses disaster resilience
Based on LEED model, may help lower insurance rates
Building Materials | Aug 28, 2015
Structural steel buildings specification available for second public review
Next year's specification open for comments until Sept. 21
Energy Efficiency | Aug 28, 2015
North American Passive House Network e-book explains Passivhaus, net-zero techniques
Free guide includes spotlight on individual projects
