Subscribe to NBN Online
Front Page
n Builders Meet With Fed Chairman as Market Conditions Turn Less Favorable
n Workforce Housing Problem Hits Close to Home
n Proposed Salmon Habitat Designation Follows Cost-Benefit Approach Advocated by NAHB
n Housing Snapshot
President's Message
n Participating on the Home Builder Research Panel Is Easy and Rewarding
Housing and Economics
n Eye on the Economy
Business Management
n You Can Become the Ritz-Carlton of Builders
n Tech Talk: It Doesn't Hurt to Convert — If You're Prepared
Seniors Housing
n Affluence, Amenities and Other Active Adult Trends to Note
n Take the Active Adult Bus Tour, Let Experts Review Your Plans at IBS
Builders' Show
n Structural Insulated Panels Stand Up to Hurricane Force in ‘So Small Showhouse’
n Make Your IBS Plans Now — and Save
Housing Finance
n Fannie Mae and Freddie Mac Announce Higher Conforming Loan Limits for 2005
n NAHB Task Force on Housing Finance Reform Seeking Input from Association Members
Small Builders and Remodelers
n A Clear, Concise Paper Trail Leads to Smoother Running Jobs
Green Building
n Entries Sought for National Green Building Awards
n Vigilance Advised as Effort Begins to Modernize Flood Insurance Rate Maps
Construction Safety
n OSHA Clarifies Fall Protection Requirements for Working From Exterior Wall Top Plate
n Ron Terwilliger Named Chair of Multifamily Leadership Board
n Sustainability of Current Condo Boom Among Topics to Be Examined at Pillars Conference
Women's Council
n Number of Women in the Construction Industry Grew 22%
Sales and Marketing
n SMI Magazine Wins Folio Award
Commercial Builders
n Adaptive Reuse Is a Profitable Alternative When Budgets Are Tight
n Student Chapter Job Fair at Builders’ Show Expected to Be the Largest Ever
Building Products
n New Technology Gives Home Builders and Buyers Easy Access to Warranty Information
Builder's Engineer
n Bad News Bearers — Friend or Foe?
Building News
Coast To Coast

Association News
& Events

n Grand Rapids Builders Lament Loss of Bill Zylstra
n Save 50% on NEBS Holiday Cards, Calendars and More
n Awards Programs Deadlines
n Calendar of Events
NBN Back Issues

Print This Article   Print All Articles   Email the Editor  

Adaptive Reuse Is a Profitable Alternative When Budgets Are Tight

Facing a decline in the number of zoned sites on which they can build, many developers in South Florida are deciding to breathe new life into the area’s older buildings.

While not a new architectural concept, recycling aging buildings is becoming an increasingly popular trend around the country as a viable development alternative when there are limited budget resources on hand. There are several examples of how pre-existing buildings that have outgrown their use can be transformed into new products for sale or lease; the most notable projects involve converting old warehouse buildings into trendy lofts, condos, restaurants and retail and office space.

Developers are finding that adaptive reuse can be rewarding and satisfying as they apply their knowledge, creativity and experience to dramatically turn around seemingly hopeless properties. Converting existing buildings is a wise use of resources and has become financially competitive with new construction. It is costly to use new construction to replicate the foundation, walls and roof that already exist, so coming into a project with the major structural elements in place can provide a major economic benefit — even when the roof needs to be replaced or the dimensions of the interior need to be altered.

Find out how Countrywide can waive condo pre-sale requirements for preferred builders.
Discover the lower initial rate and fixed payment advantages of Countrywide's Fixed Period ARM.

There are many societal benefits to adaptively reusing our buildings, as well. Abandoned buildings and vacant lots drive down property values, convey a sense of economic decline and invite crime. Reusing them accomplishes just the opposite.

Adaptive reuse also provides advantages for the environment — starting with a dramatic reduction in the amount of building material waste that is generated by the demolition and reconstruction process, which is rated as one of the least energy-efficient modes of construction.

When capital funding is tight, many developers cannot afford to build from the ground up. In terms of cost trade-offs, the purchase price of a pre-owned building is considerably more cost-effective than purchasing an existing structure, tearing it down and building something new. But no matter what the budget, adaptive reuse can be an advantageous financial fit.

In assessing a building’s eligibility for adaptive reuse, developers and investors have several factors to consider — including its physical condition — and should certainly consult architectural professionals to weigh and evaluate all of the options available.

Glenn B. Giles is president of ARC Avenue, Inc. and Giles Construction Group of Hollywood, FL. Both companies have a broad base of experience in every avenue of building design and construction, including commercial, hospitality, residential, industrial and adaptive reuse. The firm has completed several adaptive reuse projects across Florida.

go to top

The easiest & most affordable way to increase your productivity.
Try the latest version with our new release special!!
Keep all your critical schedule and job site info on your pda.
The only limitation is the contractors imagination.

To unsubscribe or to manage your subscription, CLICK HERE

Nation's Building News Online is produced and distributed by the National Association of Home Builders

NBN Online is best viewed using the latest versions of Internet Explorer or NetScape Navigator, available free.