One More Time

Flexibility and imagination are two of the greatest qualities of the human mind.  When something isn't working the way we want it to, we can simply go back and look at it again.  We can ask the questions: "What would I change?" and "How would I do this differently now?".  This perspective is at the core of adaptive reuse and redevelopment. 

Real estate has two major components - the land and the improvements.  If the land is not being used to its highest and best use, then redevelopment can be considered.  Using existing buildings in a way other than their original purpose, adapted to the current needs of an area or market, is the process of reuse.

REDEVELOPMENT: There are situations where the value of a property is weighted heavily, if not entirely, in the land.  This is predominately true in areas where the availability of raw land is limited or non-existent, such as built out urban areas or areas limited by geography, such as waterfront.  The existing buildings on this land may be more of a limitation than an asset.  The process of undoing previous construction or undertaking demolition may have its challenges, but once complete the developer is left with a blank slate.  This allows use of the the land based on present needs and market demands.  Redevelopment can be costly, but in many cases is more financially sound than trying to work around the existing structures.

ADAPTIVE REUSE: Looking at an existing building and imagining a new use is at the core of adaptive reuse.  As the needs and demands of an area change, the former use of a structure may become obsolete.  An increasing trend in development is to seek out ways to use the existing structure for something other than its original purpose- to help it adapt to the current needs of a community.  The desire to keep the existing structure may be asthetic or financial, but the results are creative and varied.