New analysis from Ontario-based AY_Canada suggests up to 34 per cent of office buildings in 14 major North American markets could be potential candidates for adaptive reuse.
DCN-JOC News ServicesTORONTO — New analysis from Ontario-based Avison Young suggests up to 34 per cent of office buildings in 14 major North American markets could be potential candidates for adaptive reuse.
“Adaptive reuse is an important conversation we are having around the art of the possible, to demonstrate how this potential solution contributes to placemaking and to the revitalization and vibrancy of our neighbourhoods, particularly our downtown cores,” said Avison Young principal Sheila Botting in a recent release. “We must reimagine how we want to live, work and play. Adaptive reuse is one of the key components of how we do that as a community.
“Beyond age and floor plate, other criteria must be considered, such as specific building feasibility, costs, location and surrounding amenities, to determine prime candidacy,” said Avison Young principal Stephen Silverstein. “That’s where conversations with our consultants, project and construction managers, asset managers and brokerage teams come into play, although this initial data set provides a clear snapshot as a starting point of what could be possible for these markets.
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