Building Transformation & Adaptive Reuse
Cities continue to amend regulations to meet the demand for building conversions.
As city and local governments recognize the opportunity to add more housing while also addressing stranded office building assets, they are amending local building codes and change-of-use regulations to support the demand for a more varied mix of uses in CBDs. The changes will also open the door to conversions for many types of spaces.
Public-private partnerships and government incentives are driving building and neighborhood transformation.
Cities have realized that single-function central business districts no longer serve them. To drive investment and encourage a new mix of uses, cities are creating public-private partnerships or offering other government incentives that can help ease the approvals process and tight margins on attainable housing projects.
The demand for sustainable, high-performing retrofits intensifies.
ESG goals, decarbonization targets, and emerging policies and regulations are increasing demand for adapted or retrofitted buildings that can be modified into high-performing assets at much lower carbon costs to comply with emerging policy requirements around lifecycle carbon analysis.