By Breanna Pianfetti
TUSCALOOSA, AL – Adaptive Reuse: Turning Blight into Bright, written by Alabama Center for Real Estate Director of Research and Corporate Engagement and CCIM Institute Chief Economist Kiernan “K.C.” Conway, analyzes the impact of adaptive reuse on the future of commercial real estate. The report has reached more than 1 million commercial real estate industry readers and has been discussed in over 67 articles from New York to Los Angeles.
“Today, adaptive reuse holds the promise of saving iconic real estate assets across U.S. metros where urban growth has resurfaced,” Conway wrote in the report.
The detailed account introduces new criteria for renovating old structures, offers the first industry definition for adaptive reuse, and features examples of recent commercial growth where adaptive reuse was used. Unsure of the affects an extended trade war could have on the price of new construction, commercial real estate investors and developers may turn to adaptive reuse as an alternate option.
Led by Grayson Glaze and housed in Culverhouse College of Business, ACRE works to enhance Alabama’s real estate industry by providing national thought leadership and relevant resources in areas of research, education and networking.
Read more information on the report and its impacts here.