Forbes Feature: Nine Adaptive Reuse Considerations Property Owners Should Know
Charles Argianas writes about adaptive reuse
Real estate is anything but static, some property types grow in demand and seemingly no supply can keep up while others gradually no longer attract the same needs as before. These changes in demand affect multi-family, industrial, office, and retail real estate, sometimes with limited warning and due to any number of reasons. So, what is a real estate owner to do with a less than attractive property? The grocery store when there’s no demand for a grocery store? While your first inclination may be to market it or at worst moth ball the property….there is another way.
Adaptive Reuse! The process of taking an old building or site and reusing it for a purpose other than what it was designed to do. This simple yet successful approach has been in use since the first major adaptive reuse project in the United States in 1964, the Ghiradrdelli Square in San Francisco.
While not complicated, there are some things you need to know when you are facing these challenges and investigating adaptive reuse for your next real estate need. For a breakdown of the nine important adaptive reuse considerations, read Charles Argianas’ latest Forbes article here.