December 16, 2016
The idea of taking something old and re-molding it into a bright and shiny thing isn’t exactly new. Brownfield reclamation, rails-to-rails initiatives and building repurposing has been around for a while. It’s only been in the past few years, however, that adaptive reuse has taken off as a viable construction concept.
It’s likely the recession moved developers toward upgrading the historical landmark building into trendy apartments, or transforming that old 19th-century downtown into a town square, according to Gina Ford with architect firm Sasaki Associates in Boston.
Sasaki is working with the city of Chicago on its Chicago Riverwalk project, as well as partnering with High Line Canal Conservancy on upgrading Denver’s High Line Canal as an eco-friendly walking trail. In addition to providing unique attributes, such reuse projects can provide investors with an average $4 to $5 return, Ford said.
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