Adaptive Reuse is flooding Charlotte’s office market, and it won’t be going anywhere
Charlotte’s rich history as an industrial hub established much of the urban industrial infrastructure we see today.
January 28, 2020
- Many of the original industrial sites have been overlooked by tenants, investors, and developers to date. The old warehouse or mill that a developer used to see as valuable land is now seen as an opportunity to retain history while putting the site to an alternative use, a process called adaptive reuse.
- The choice to keep and renovate an original structure is often the more complex and expensive route, especially if the site has been neglected or misused. Owners and developers, however, are willing to spend more money in order to maintain the history of the site. For the community, Charlotteans crave the sense of belonging to a place. People want to know, see, and feel the history of a building when they walk in, even if the use of the space has changed. In fact, a recent trend of tenants moving into adapted space from traditional office space seems to be picking up.
- In Charlotte, there are over a dozen adaptive reuse projects in the pipeline. Some are free standing and some are part of larger mixed-use developments. These projects are tightly concentrated around major hubs of transportation, like the LYNX Light Rail, high density bus lines, and busy auto routes. Adaptive reuse is bringing Charlotte’s history to the forefront, offering a sense of community, belonging, and connectedness to all of Charlotte.
Source: JLL Research, ESRI