National Association of REALTORS Releases Adaptive Use Report

Adaptive reuse refers to “recycling” an existing building for a purpose that is different from
which it was originally built or designed for. Adaptive reuse can optimize the useful life of
existing assets by repurposing them for new uses while maintaining their historic features
and presence in the community. Key features of adaptive reuse are prevention of
demolition of existing structures allowing for greater integration into the revitalization of
decaying neighborhoods, while at the same time offering an attractive alternative to new
construction in terms of sustainability. These types of projects are not restricted to
buildings of historic significance, however, and can be a strategy adopted in the case of
any obsolete building or structure. As with any project, the architects, developers,
builders, and entrepreneurs looking to rejuvenate and reconstruct a building still must
perform adequate due diligence to make sure that upon completion, the project will serve
the need of the market and can be competitively priced for the new intended use.

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