Adaptive Reuse Jan16

Adaptive Reuse

Among a series of initiatives aimed at improving the urban landscape, adaptive reuse comes as a sustainable solution now embraced by many developers and urban planners. Attempts to revitalize old, unoccupied structures gain importance due to economic and social implications. Projects that involve the restoration of a blighted building or the renovation of a vacant warehouse bring about much more than just aesthetic improvements. While reducing urban sprawl, adaptive reuse also allows communities to reinvent themselves; it essentially encourages new development, establishment of a sound professional environment with better jobs and more varied business opportunities, as well as the creation of sustainable infrastructure systems and mixed housing. From an environmental standpoint, adaptive reuse is extremely beneficial for the evolution and well-being of a community. Many of these properties, such as derelict industrial sites, steel mills or abandoned factories, may be contaminated by low concentrations of hazardous waste or pollution. Their transformation or conversion means that the environmental risk will be eliminated before putting the property to productive reuse. One Dallas Center is a successful example of adaptive reuse that is expected to act as a catalyst for continued growth and redevelopment in downtown Dallas. Formerly known as Patriot Tower, the landmark building at 350 North Saint Paul Street was acquired in December 2012 by a partnership between Dallas-based Todd Interests and Moriah Real Estate Company of Midland, Texas. Touted as one of the largest and most aggressive redevelopment projects in the Southwest, the property is currently undergoing a $100 million transformation that will add 276 ultra-cosmopolitan apartments as well as 13 stories of premier office space to the Central Business District. One Dallas Center offers extensive amenities, including proximity to the DART train line, covered parking and nearby restaurants, banks and fitness center. The...