Over the years we have been asked to assess the viability of converting properties to housing. My first property was an old schoolhouse in Newburyport, Ma. Since that time, I have worked with numerous owners, architects, builders to recommend the best residential conversion plan to execute. One favorite is the Royal Truss complex in the Noda neighborhood of Charlotte. Built in 1953 and converted to condos in 2007, this hip, contemporary complex boasts loft layouts, industrial finishes and an electric roll up garage style door that opens to a patio.
My favorite project globally that is included in the Architectural Digest 2023 WOW list of the most important new works of architecture, art and design.
Commercial real estate advisors, Avison Young, estimate that up to 34% of office buildings in 14 major North American markets could be potential candidates for this type of adaptive reuse.
Other adaptive reuse assignments have included motels, hotels, offices, schools, hospitals, mills, and churches. The most exciting part of the process is determining the target consumer and working to craft a development plan; often with auxiliary uses including live/work units, office and retail to compliment the housing and resident needs. Our scope has allowed us to work with the teams of architects, designers like Charlotte-based STEWARTMARR, engineers, attorneys, municipalities and contractors to provide plans that are “hammer ready”.
The process is challenging, expensive and often full of surprises, but in the current housing crisis we need to be on the lookout for every opportunity. If you need help – give us a call.
