Is adaptive reuse right for my commercial real estate needs?

Posted online

A powerful tool in commercial real estate is creativity. When choosing a property for development projects, one of many options is restoring old buildings or adaptive reuse. It’s a means of infusing new life into historic buildings.

Trade & Industry Development stated that, “From a cost perspective, a complete building rehabilitation costs about 16% less in construction costs and 18% less in construction time than new construction.”

A great repurposed project can generate excitement, create new perspectives and trigger a wave of revitalization for an area. Restoring historical structures helps to preserve the unique character and personality of a community. They leave less of a carbon footprint throughout the life of the project. Although every project is different, it generally takes less time to rehab an existing building than create one from scratch and they typically require fewer materials and produce less waste. Another benefit to restoring older buildings is the tax credits. There are local, state and federal historic tax credits and incentives available to builders or developers who revitalize older buildings.

Meet the Expert

Viviana Writer is a real estate agent with Prosperiti Brokers in the Springfield, MO region providing buyers and sellers with professional, responsive, and attentive real estate services. Want an agent who'll really listen to what you want? Need an agent who knows how to effectively market your commercial or residential property so it sells? Prosperiti Brokers is a boutique brokerage with Midwest values and a national reach. The company mission is to help the communities they serve to prosper.