What is the current business case for adaptive reuse? With 45% of A&D projects now related to existing building stock, do you feel equipped with the information needed to deliver a successful reuse project? While our industry agrees that reuse projects are beneficial, we often lack the tactical details to maximize the value of reuse. This session brings together NY and global industry experts from real estate, development, circularity, embodied carbon, and construction to detail the ROI of adaptive reuse projects and discuss successful implementation in NYC and beyond.
Panelists will first share the current business case for adaptive reuse. JLL will present the latest ROI research on the economic and environmental returns of building and material reuse and the real estate demand forecast. Brightworks will discuss embodied carbon implications, with details from recent projects and stakeholder benefits. Turner will highlight their latest insights on implications for construction administration and delivery, and Rudin will share the key decisions that benefit the bottom line for owners and developers.
The session will dive into the critical factors driving value proposition for adaptive reuse, with corresponding project data. Factors include the labor market, the role of the local economy in finding material reuse partners, marketplace tools and software, the asset condition, existing on-site materials, and cost barriers and regional constraints. The panelists will present strategies pursued on a current office-to-residential conversion in midtown Manhattan, with associated insights on which strategies had a strong ROI, strategies that faced implementation challenges, and approaches that support LEED credits.
The panelists will close with a Call to Action, detailing next steps that can be immediately implemented and highlighting specific industry asks to enable implementation of reuse at scale. Audience participation will include discussion and feedback on aspects of the market we hope to shift and improve.
