Revitalization of Existing Buildings: An Owner's Perspectiveby Barry Donaldson, Tishman Research Corp, New York, NY, USA,
Abstract: Revitalization of the large stock of existing buildings in this country is of paramount importance today to building owners, who want the value of existing properties to appreciate as much as possible, and to the owner/developer who wants to take advantage of existing real estate that may be dormant or undervalued. It is in the owner's interest to maintain or upgrade the area in which he is building. The profitability of real estate development and the rising costs of new construction are putting greater emphasis on the revitalization of existing buildings, especially those buildings of architectural or historic significance. The concerns of the owner are how to make the highest and best use of existing buildings and meet the demands of an increasingly aware and demanding public.
Subject Headings: Existing buildings | Real estate | Owners | Building codes | Profits | Construction costs
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