Items Tagged ‘funding’
Old Walls, New Uses
Publication Date:
December 18, 2009Written By:
Mariwyn EvansSource:
International Business Times Real EstateRead more...
Synopsis:
Adaptive reuse is a labor of love and Ms. Evans shows us the process necessary to find and promote the opportunity that an old building provides. While an old building can offer prime location, there are some potential issues you should be aware of prior to starting such a project: costs, permitting, environmental. There are three primary steps to follow before beginning. The first is to find an appropriate property; consider physical constraints, structural feasibility, marketability, code issues, and zoning requirements. The second is to determine the market needs and will that fit with the potential use of the building. The final element is funding (adaptive reuse projects are now easier to fund than new developments due to their potential for downtown revitalization).
Everything is Going to be Alright
Publication Date:
Summer 2008Written By:
Robert and Andrew LinnSource:
Next American CityRead more...
Synopsis:
Detroit seems to be the anti-adaptive reuse city of America. Robert and Andrew Lin paint a picture of a city (and state) willing to tear down all the old building and factories to make way for the “New Detroit.” They claim that many Detroiters see empty buildings as liabilities rather than opportunities, choosing “short-term profits from marginally beneficial new developments…over preserving buildings with immense potential.” The critics of adaptive reuse point to health and safety issues (some buildings may be difficult to bring up to code) as well as funding (banks have a hard time evaluating such projects). The city charges 65% more for an adaptive reuse permit than a demolition permit. The state and city also moved quickly to condemn and demolish a number of historic buildings for Super Bowl XL.
There are supporters of adaptive reuse in the city who see the buildings as representing “the raw material, the building blocks for rebuilding the City.” For many, they have a financial benefit to adaptive reuse, being able to operate much larger businesses due to lower rents. Even illegal “takings” by underground music and arts venues of vacant buildings are passed over by law enforcement. They consider that these “businesses” may be more beneficial than harmful.