When asked what they are looking for in an apartment by Philadelphia Management Company, young renters list onsite amenities such as gyms, up-to-date appliances and controllable heating and cooling systems. When asked what their ideal apartment building would be, they will tell you a unique downtown building with character. Both are available when choosing an adaptive reuse property.
Millennials are looking for home options that are stylish, comfortable, and environmentally responsible. The process of adaptive reuse allows outdated properties to be updated and upgraded, preventing properties from falling into disrepair and becoming a drain on the local environment. Adaptive reuse can allow responsible companies to reclaim and repurpose older sites for a new generation of residents.
Adaptive Reuse Explained by Philadelphia Management Company
Adaptive reuse is a term that describes the development of an old site or building and reusing it for something other than which it was originally intended. It also has become a way to conserve land and reduce urban sprawl.
Philadelphia Management Company said adaptive reuse is often the result of a compromise between a desire to preserve historic buildings or tearing it down for redevelopment.
The challenges are considerable when turning an aged 19th or 20th century warehouse into a modern, cozy 21st century apartment building. Present day fire codes are considerably more complex than when the building was originally designed.
“Modern fire codes call for sprinkler systems, multiple stairways and voice and strobe alarm systems,” a representative from Philadelphia Management Company said. “Today’s tenants are very energy conscious and want state of the art heating and air conditioning systems that require little electricity to run. These systems require new ductwork and wiring.”
Energy efficient multiple pane windows are added both to conserve energy and create a quiet restful retreat. These advanced window systems further contribute to an affordable energy efficient home.
Buildings Gets Second Life
Once the upgrades are complete, a reused property is then converted from the original purpose to a home base for today’s active renters. Warehouses become multi-tenant studios. Commercial buildings become luxury apartment buildings. The layouts of these buildings are often unique and incorporate the character of the building into the living space.
Many buildings are suitable candidates for adaptive reuse. An excellent example would be a former office tower with a layout conducive to apartment dwelling. Features such as a rectangular footprint and centrally located interior elevators. Often, the entire inside will need to be gutted and rebuilt. However, it is often possible to preserve historical features, including wood paneling and flooring, built-in bookcases and handcrafted amenities.
By keeping the original structure, the ecological impact of development is minimized. In saving the building from demolition, the builder keeps waste and construction materials out of the landfill and contributing to environmental pollution. An added benefit can be proximity to municipal parks, entertainment and other services.
Many of the repurposed buildings are remnants of 20th century industries that are no longer viable. They were located in prime real estate close to the water or center of the city. A reused property is often convenient to transportation and local attractions as well as an essential part of the rejuvenation of neglected land.
As more renters look to repurposed buildings, a city can look to reign in the urban sprawl that contributes to a reduction of arable lands. Cities can also benefit from a reduction in costs servicing the roads, sewers and electrical in far flung suburbs.
“By reclaiming the long neglected industrial tracts, renters spend less time commuting and more time enjoying their home and free time,” PMC Property Group said.
The choice of a property like this has many benefits for the renter and the city as a whole. If it is closer to work or play, there is less strain on transportation and essential services. Hooking into the existing city services helps keep municipal costs from soaring.
Many young renters want to live close to the downtown, in a unique space that is environmentally friendly. With the upgrades and amenities available in a refurbished building, these same renters won’t have to sacrifice comfort in their eco-friendly homes. They have the ability to live in a distinctive space while helping to reduce the impact on the environment.
“Today’s renters are trying to have it all and succeeding with a reuse property,” Philadelphia Management Company said.