You searched for Adaptive Reuse - REBusinessOnline

Multifamily Is Needed for All Income Levels in Kansas City

Kristin Harlow — Thu, 05 Feb 2026 13:33:00 +0000

By Doug Stockman, Helix Architecture + Design Straddling two states, Kansas City is one of the country’s most distinctive real estate markets. Since 1992, our firm has designed workplace, cultural, higher education and multifamily projects of all types in the city, with specialized expertise in adaptive reuse. We see multifamily as the most active segment in 2026. Compared with other states, Missouri’s support for new housing projects is about average. Kansas is near the bottom, because the state lacks the revenue to incentivize housing. Inventory on the Kansas side is also less, with most multifamily housing located outside the city. Looking ahead, low-income housing tax credit (LIHTC) incentives will ideally accelerate Kansas City’s biggest market demand — affordable housing. The Kansas City Affordable Housing Set-Aside Ordinance presents some obstacles. To receive city subsidies, multifamily developments must have 12 or more units, 20 percent of which need to be affordable for households earning 60 percent or less of the area median income (AMI). Alternately, developers can pay $100,000 into the city’s Affordable Housing Trust Fund. Further, developers must navigate a complex process of zoning approvals and community engagement meetings that culminates with a city council hearing. If approved, developers on the Missouri…

The post Multifamily Is Needed for All Income Levels in Kansas City appeared first on REBusinessOnline.

Kansas City Leads By Example: How to Balance Growth and Heritage in Legacy Neighborhoods

Kristin Harlow — Thu, 29 Jan 2026 13:30:00 +0000

By Graham Smith, Multistudio A national shift is underway, and it starts with how cities listen. Across the country, communities and development teams are rethinking how reinvestment happens in legacy neighborhoods shaped by deep cultural identity but burdened by decades of underinvestment. These districts often hold irreplaceable history, yet for years they were sidelined by capital markets that prioritized scale, speed and uniformity over context and continuity. Historically, redevelopment in these areas followed a familiar pattern: projects designed first and explained later. Too often, that sequence displaced cultural institutions, local businesses and social networks that gave neighborhoods their meaning. Today, rising expectations around equitable development and renewed interest in urban cores are forcing a different calculus. Community engagement is no longer a step at the end of a project. It is a strategic input that shapes outcomes, reduces risk and strengthens long-term value. Intentional reinvestment Kansas City offers a timely example of how intentional process can align with market opportunity. After years of downtown population growth, expanded transit infrastructure and rising global visibility ahead of the 2026 FIFA World Cup, long deferred reinvestment became feasible. Local leaders recognized that this momentum created an opportunity to reinvest in the historic 18th…

The post Kansas City Leads By Example: How to Balance Growth and Heritage in Legacy Neighborhoods appeared first on REBusinessOnline.

Walker & Dunlop Arranges $867M Financing Package for Office-to-Residential Conversion Project in Lower Manhattan

John Nelson — Mon, 22 Dec 2025 13:00:00 +0000

NEW YORK CITY — Walker & Dunlop Inc. has arranged an $867 million financing package for 111 Wall Street, a 24-story, waterfront office building in Lower Manhattan’s Financial District. The development team, led by borrower InterVest capital partners, a global alternative investment manager based in New York City, plans to convert the fully vacant office building into a 30-story luxury apartment building housing 1,568 rental units. Approximately 25 percent of the units will be designated as affordable housing for residents earning an average of 80 percent of the area median income (AMI), qualifying the project for New York City’s Affordable Housing Conversion Program. Dustin Stolly, Aaron Appel, Adam Schwartz, Keith Kurland, Jonathan Schwartz, Sean Reimer and Sean Bastian of Walker & Dunlop arranged a $778.6 million construction loan through Apollo Global Management, J.P. Morgan Chase & Co. and TYKO Capital. The closing of this financing marks the largest single-building office-to-residential conversion loan in New York City history as well as the country, according to Walker & Dunlop. Walker & Dunlop also advised on the extension of an existing $88.4 million C-PACE loan from Petros that remained in the capitalization, bringing the total financing package to $867 million. “With office vacancies…

The post Walker & Dunlop Arranges $867M Financing Package for Office-to-Residential Conversion Project in Lower Manhattan appeared first on REBusinessOnline.

Texas Economic Development Professionals Focus on Quality of Life

Taylor Williams — Tue, 16 Dec 2025 12:43:00 +0000

By Taylor Williams “Economic development is the process of improving the economic well-being and quality of life for a community or nation through strategies like job creation, infrastructure development and advancements in education and health.” That’s the first sentence of the AI-driven overview that results from a simple Google search of the term “economic development.” And admittedly, that’s a very good start. Economic development is rooted in economics, a field that embodies the study of business, industry, jobs and wealth. The Google definition also pays tribute to the behind-the-scenes infrastructural work that is required to jumpstart and sustain most business endeavors, particularly regarding commercial real estate. And lastly, it covers what which may be the most important, end-all goal of economic development work: elevated quality of life for the people who live in, work at and patronize those commercial establishments. It’s that last part of the definition that appears to represent a growing niche and focal point within the spectrum of economic development work in Texas. Quality-of-life initiatives can be manifested in an array ofcommercial settings: housing, entertainment, food-and-beverage, hospitality. And as economic development professionals embrace many different roles — ambassadors of their communities, liaisons with developers and business owners,…

The post Texas Economic Development Professionals Focus on Quality of Life appeared first on REBusinessOnline.

Reliant RE Partners Buys 91-Unit Apartment Building in Ansonia, Connecticut

Taylor Williams — Fri, 05 Dec 2025 16:03:24 +0000

ANSONIA, CONN. — Reliant RE Partners has purchased Bella Vista Apartments, a 91-unit multifamily building in Ansonia, located in New Haven County. The adaptive reuse building includes more than 8,000 square feet of commercial space and amenities such as a coffee lounge, business center and a gym. Victor Nolletti, Wes Klockner and Eric Pentore of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, Bella Vista Ansonia LLC, in the transaction and procured Reliant as the buyer.

The post Reliant RE Partners Buys 91-Unit Apartment Building in Ansonia, Connecticut appeared first on REBusinessOnline.

Icon Structures Underway on Adaptive Reuse Project for Community Crisis Center in Wichita, Kansas

Kristin Harlow — Thu, 04 Dec 2025 14:07:28 +0000

WICHITA, KAN. — General contractor Icon Structures is underway on an adaptive reuse project for Sedgwick County Government in Wichita. The project that will convert a 105-year-old building that formerly housed a car dealership into the new COMCARE Community Crisis Center (CCC). The development will expand access to mental health services and consolidate the county’s services into a single building adjacent to the new Wichita Biomedical Campus (WBC). Helix Architecture + Design is leading the transformation. Helix is also part of the architecture and interiors team, along with CO Architects, for the WBC, a joint initiative of the University of Kansas Medical Center, Wichita State University and WSU Tech to establish a regional health sciences educational hub. Once operational, the CCC will offer WBC students hands-on clinical mental health training and possible career internships. The building will transition COMCARE, a certified community behavioral health clinic, from a residential facility to a new level of care as a crisis intervention center (CIC), providing stabilization services to those with more serious mental health needs. The CIC will allow for a centralized 9-8-8 suicide and crisis lifeline call center operations and 24/7 access to medical providers. It will also accommodate mental health services…

The post Icon Structures Underway on Adaptive Reuse Project for Community Crisis Center in Wichita, Kansas appeared first on REBusinessOnline.

Milwaukee Office Market Proves That Resilience Sparks Reinvention

Kristin Harlow — Thu, 04 Dec 2025 13:30:00 +0000

By Matt Hunter, Hunter Real Estate Milwaukee’s office market, like many others across the country, is in flux. Rising costs, shifting tenant demands and looming debt maturities are all testing the market’s strength. But out of that pressure comes reinvention, and Milwaukee is proving it’s up for the challenge. High-quality, well-located, amenity-rich office buildings are more important than ever. They’re essential to attracting and retaining top talent. Office buildings don’t just serve the tenants that occupy them, they grow the tax base, support local businesses, drive housing demand and help build a more vibrant and economically resilient city. One of the most defining features of Milwaukee’s current office market is what’s not happening: there’s virtually no new construction. With high interest rates, continually increasing construction costs and economic uncertainty, ground-up office development has largely stalled. This has created a limited supply of modern, Class A office space, just as tenants are placing greater emphasis on quality. That supply-demand imbalance is driving increased competition for top-tier buildings and putting upward pressure on rents in this high-end segment. Tenants want less space but better-quality space, and they’re willing to pay a premium for it. This is a significant opportunity for landlords of…

The post Milwaukee Office Market Proves That Resilience Sparks Reinvention appeared first on REBusinessOnline.

Metro New Orleans Multifamily Market Remains Balanced 20 Years Post-Katrina

John Nelson — Mon, 01 Dec 2025 12:28:00 +0000

August 29, 2005 — a day no New Orleanian will forget: Hurricane Katrina. It has been two decades since the levees were breached and flood waters took over the city’s streets, homes and businesses. It was an event that changed the trajectory of the city of New Orleans. Twenty years later and the resiliency of New Orleans to always push on is evidenced by the stability of our multifamily market. Through a period of demolition, renovation and rebuilding, the overall market remains stable. The barriers to entry in the Metro New Orleans multifamily market are significant, and today as in the past, the equilibrium between supply and demand remains in sync. Like other Sun Belt markets, insurance premiums, interest rates and affordability are factors. However, they have not been a deterrent to the viability of the market or interest from investors and the capital markets. Our inventory of more than 55,000 units (professionally managed) spread out over seven parishes, remains strong. Overall metro occupancy is being reported between 92 to 94 percent with average rents of $1,300 per month. Parish by parish Eastern New Orleans and Algiers, which each have an inventory of approximately 4,000 units, offers the most affordable…

The post Metro New Orleans Multifamily Market Remains Balanced 20 Years Post-Katrina appeared first on REBusinessOnline.

Midwest Office Markets Face Mounting Pressure

Kristin Harlow — Thu, 20 Nov 2025 13:30:00 +0000

By David Goldfisher, The Henley Group Secondary and tertiary office markets across the Midwest, including Chicago, Minneapolis, Madison, Milwaukee, Cleveland, Cincinnati, Columbus and St. Louis, are facing mounting pressure. While each city has its own challenges, a common theme is clear — vacancies remain high and liquidity is thin. Tenant shuffling One of the defining dynamics today is tenant reshuffling rather than net growth. As leases expire, employers frequently move from one building to another, seeking modernized space and stronger amenities. Renovating in place is disruptive and costly, while relocating allows businesses to upgrade with minimal operational downtime. This “musical chairs” effect highlights a deeper structural issue. There are only so many large anchor tenants in Midwest cities and few new entrants are seeking major blocks of space. There is more repositioning for existing tenants than attracting new ones. Flight to quality Landlords and developers are competing to deliver amenities that encourage office attendance and support talent retention. Modernized lobbies, tenant lounges and flexible collaboration areas have become standard expectations. Hines’ upgrades at Chicago’s 333 West Wacker Drive and 601W Cos.’ reinvestment in the Old Post Office demonstrate the scale of investment required. But not all landlords can compete. With…

The post Midwest Office Markets Face Mounting Pressure appeared first on REBusinessOnline.

Exhibit on Atlanta Retail: Observations from Intown to the ‘Burbs

John Nelson — Mon, 17 Nov 2025 12:35:00 +0000

If you’ve spent any time driving around Atlanta recently, you’ve probably noticed something. More development sites are returning with bulldozers and developers are taking down land parcels in the suburbs the size of small European countries. But this time, the approach is more strategic than ever. Gone are the days when a developer would carve out a shopping center for base rents less than $40 per square foot and call it a day. Today, some metro Atlanta developers are assembling larger tracts and creating hybrid projects that include multifamily housing, storage and even industrial uses in the back of the parcel, saving the front-facing road frontage for ground leases, build-to-suits and limited shop space. Automotive and restaurants concepts are clamoring for pads. The result? Those once-overlooked “front and center” pad sites and strip centers are suddenly the belle of the ball. The downside is paying too much on the buy side for the dirt for aggressively low caps rates. But all I can say for the rental rates that I’m seeing is “Wow.” Restaurants still lead In Atlanta’s retail market, restaurants continue to be the leading driver of leasing activity. According to observations, excluding junior box space, food-and-beverage deals made…

The post Exhibit on Atlanta Retail: Observations from Intown to the ‘Burbs appeared first on REBusinessOnline.

HDA Leads 325,000 SF Adaptive Reuse Project for Gulf Distributing in Downtown Mobile, Alabama

John Nelson — Wed, 12 Nov 2025 13:48:55 +0000

MOBILE, ALA. — HDA has announced the completion of the new headquarters for Gulf Distributing in downtown Mobile. The project was an adaptive reuse of the vacant Press-Register Building, a 1950s-era printing press, into a 325,000-square-foot beverage distribution facility. HDA’s design included renovating 225,290 square feet of existing space, an 85,040-square-foot warehouse expansion, a new 4,960-square-foot vehicle maintenance facility and a 9,166-square-foot covered cooperage for the production of barrels and tubs. Other members of the project team were not released. Founded in 1973, Gulf Distributing is a beer distributor that operates across Alabama, the Florida Panhandle and Mississippi. The family-owned company employs approximately 1,300 people and partners with more than 140 suppliers.

The post HDA Leads 325,000 SF Adaptive Reuse Project for Gulf Distributing in Downtown Mobile, Alabama appeared first on REBusinessOnline.

How New Texas Laws Aim to Tackle Housing Shortage, Aﬀordability Crisis Through Public-Private Partnerships

Taylor Williams — Tue, 11 Nov 2025 12:52:00 +0000

By Jamee Jolly, president and CEO, The Real Estate Council With record population growth and a $2.7 trillion economy, Texas faces mounting pressure to expand its housing supply and aﬀordability. New legislation from the 89th legislative session gives developers, cities and investors new tools to build sustainable communities through stronger collaboration between the public and private sectors. From established patterns of corporate relocations, job creation and direct foreign investment to fostering emerging industries like renewable energy, semiconductor manufacturing, aerospace and ﬁnancial services, Texas has a long history of economic strength, industry diversiﬁcation and innovation. That track record makes it one of the nation’s premier destinations for both businesses and residents. Last year, according to U.S. Census Bureau data, Texas led the nation in population growth for the 14th consecutive year, adding more than 560,000 people to reach over 31 million statewide. In North Texas, the population in Dallas-Fort Worth (DFW) alone is expected to grow from 8 million to 12 million residents by 2050. While this growth fuels one of the world’s largest economies, it has also created a shortage of more than 320,000 homes and a rising challenge of housing aﬀordability statewide, particularly at the entry-level price point, where…

The post How New Texas Laws Aim to Tackle Housing Shortage, Aﬀordability Crisis Through Public-Private Partnerships appeared first on REBusinessOnline.

Henderson Park, Landmark to Develop 335-Bed Student Housing Project Near College of Charleston

John Nelson — Thu, 06 Nov 2025 15:13:33 +0000

CHARLESTON, S.C. — Locally based private equity real estate management firm Henderson Park and Athens, Ga.-based developer giant Landmark Properties plan to develop The Mark Charleston, a 335-bed student housing development situated near the College of Charleston. The companies recently acquired the 1.2-acre site at 500 E. Bay St., which is situated on the east side of the peninsula and within a half-mile from the college’s Harbor Walk campus. The design-build team includes affiliate general contractor Landmark Construction and architect GreenbergFarrow. The six-story building will comprise 99 apartments and is expected to deliver in time for the College of Charleston’s 2027-2028 academic year. The Mark Charleston will feature the adaptive reuse of the historic Blanken Matson House on the site that will be relocated and overhauled into a 1,200-square-foot study space known as “The Library.” The development will also include 1,200 square feet of ground-floor retail space and 18,000 square feet of amenities, including a clubhouse and three rooftop decks with a pool deck that provides views of the Charleston Harbor and Ravenel Bridge, as well as a grilling area, lounge and outdoor recreation areas. Other amenities will include an 1,800-square-foot fitness center, computer lab, study areas and 140 total…

The post Henderson Park, Landmark to Develop 335-Bed Student Housing Project Near College of Charleston appeared first on REBusinessOnline.

Simon to Develop 100-Acre Sagefield Mixed-Use Center in South Nashville

John Nelson — Tue, 04 Nov 2025 13:00:00 +0000

NASHVILLE, TENN. — Simon Property Group (NYSE: SPG) plans to develop Sagefield, a 100-acre mixed-use destination that will be located on the south side of Nashville. The construction timeline for the project was not released. Situated in the hills of Williamson County, the planned project will feature lifestyle shops, restaurants and service retail spaces, as well as a landmark hotel by Author & Edit Hospitality, a hotel brand helmed by restaurateur and hotelier Sam Fox of Fox Restaurant Concepts. “This exciting new development will set a new standard for quiet luxury in metro Nashville and beyond,” says Eric Sadi, co-president of Simon’s North American real estate division. Simon is collaborating on Sagefield with Adventurous Journeys Capital Partners (AJ Capital), a Nashville-based firm that specializes in mixed-use and adaptive reuse development. Simon and AJ Capital are currently collaborating on Nashville Premium Outlets, a 325,000-square-foot outlet mall that will break ground next year in Thompson’s Station, Tenn. Plans for Sagefield also call for first-to-market boutique retailers, household-name operators, farm-to-table restaurants and cafés, an organic market, entertainment venues and health and wellness concepts. The development’s planned hotel will offer signature restaurants, a high-end spa, sports and a social members club. Simon says that…

The post Simon to Develop 100-Acre Sagefield Mixed-Use Center in South Nashville appeared first on REBusinessOnline.

What Developers Should Know About Repositioning Commercial Properties into AI-Ready Data Centers

Taylor Williams — Tue, 04 Nov 2025 12:41:00 +0000

By Felicia Santiago, architect, Gensler As artificial intelligence (AI) technologies evolve and scale, digital infrastructure must follow suit. While advocating for historic buildings to find new life via preservation as data centers is understandable, not every structure is well-suited for this type of repurposing. But this shouldn’t stop developers from overlooking two big opportunities for data center construction plays: revitalizing existing vacant properties as data centers and re-tooling legacy data centers for today’s AI needs. The beauty of adaptive reuse is that it theoretically preserves the existing fabric of community while incorporating modern infrastructure where it is needed — within the fabric of the community. Another opportunity to repurpose existing facilities into modern data centers involves potentially bypassing regulatory items that cause challenges and delays, such as rezoning, since these data centers would be grandfathered into that use. Legacy data centers — once the backbone of enterprise computing — are increasingly outdated and unable to support the energy intensity, cooling demands and density required by AI infrastructure. Rather than defaulting to new construction, there’s an urgent opportunity to recycle existing buildings. The sustainability practices of repurposed buildings should not be overlooked as the need for data centers continues to grow. …

The post What Developers Should Know About Repositioning Commercial Properties into AI-Ready Data Centers appeared first on REBusinessOnline.

Chicago City Council Approves $241.5M Office-to-Residential Adaptive Reuse Project at Field Building

Hayden Spiess — Thu, 30 Oct 2025 11:26:00 +0000

CHICAGO — The Chicago City Council has approved plans for an adaptive reuse project at 135 S. LaSalle St. in the city’s central business district (CBD). A joint venture between Riverside Investment & Development, AmTrustRE and DL3 Realty is developing the project, which has a total budget of $241.5 million. Financing for the development includes $98 million in city subsidies and historic tax credits. Scheduled to begin construction in spring 2026, the project will convert 624,000 square feet of vacant office space within the 1.4 million-square-foot Field Building to modern residential units and commercial space. Upon completion, the development will feature 430,050 square feet of residential space across 386 units, as well as 92,000 square feet of commercial space. Residences will include a mix of studio, one- and two-bedroom apartments. Commercial space at the property will house food-and-beverage offerings, a small-format grocer, health and fitness club and other amenities. “The Field Building redevelopment will bring much-needed housing and amenities to workers, visitors and a growing residential base in the city. By modernizing this landmark, the project will help reposition the Loop to attract leading corporations and top talent while bolstering Chicago’s reputation as a thriving economic and cultural destination,” says John O’Donnell,…

The post Chicago City Council Approves $241.5M Office-to-Residential Adaptive Reuse Project at Field Building appeared first on REBusinessOnline.

Atlantic Cos. to Build Hillrose Market Mixed-Use Development in Roswell, Georgia

John Nelson — Wed, 29 Oct 2025 14:00:00 +0000

ROSWELL, GA. — The Atlantic Cos. has received approval from the City of Roswell to build Hillrose Market, a mixed-use development in the northern Atlanta suburb of Roswell. Adjacent to City Hall with walkable trail connection to the Canton Street Historic District, Hillrose Market will transform a 7-acre site fronting Hill Street between Atlanta and Ellis streets. Plans call for a six-building, 75,000-square-foot retail village; an office building; the adaptive reuse of the former Roswell Police Department into a mixed-use hub with ground-floor retail space and second-floor workspace; 143 luxury rental apartments; 16 for-sale brownstones; abundant surface and structured parking; and pedestrian access to downtown Roswell and surrounding trails. Atlantic Cos. is developing Hillrose Market in a public-private partnership with the City of Roswell. ASD | SKY is leading design efforts, and The Providence Group is developing the brownstones. Westbridge is serving as commercial consultant, advising on the adaptive reuse and retail components. New South Construction Co. is the general contractor, and Kimley-Horn is the project engineer. Crosby Design Group is leading interior design services. Construction is slated to begin next year, with completion of the first phases anticipated in 2027.

The post Atlantic Cos. to Build Hillrose Market Mixed-Use Development in Roswell, Georgia appeared first on REBusinessOnline.

Huntington Construction Expands Operations to Ohio

Kristin Harlow — Mon, 27 Oct 2025 13:45:28 +0000

COLUMBUS, OHIO — Huntington Construction, a Michigan-based full-service commercial construction company, has expanded its operations to Ohio, including the Cleveland, Cincinnati, Columbus, Dayton and Toledo markets. Huntington has completed thousands of projects for government, commercial, retail, student housing, seniors housing and healthcare for more than 45 years. The firm offers tenant build-out services, historic preservation and adaptive reuse expertise, new construction opportunities and renovation capabilities. The company also maintains an office in Chicago.

The post Huntington Construction Expands Operations to Ohio appeared first on REBusinessOnline.

Redevelopment Projects to Reshape St. Louis Retail Corridors

Kristin Harlow — Thu, 23 Oct 2025 12:30:00 +0000

By Emily Ackley, NAI DESCO The St. Louis retail market could be perceived as a contrasting story — national headlines continue to spotlight store closures and shifting consumer habits, and yet on the ground, St. Louis is working to write a quite different narrative. Vacancy rates remain tight, redevelopment projects are reshaping corridors and both suburban and urban districts are evolving to meet the demands of today’s consumers. It is not a market without its challenges, but St. Louis retail is far from stagnant. Market conditions As of the second quarter of 2025, the St. Louis retail market experienced a dynamic shift as a result of low vacancy rates, evolving consumer behavior and significant redevelopment projects across the St. Louis MSA. The overall retail vacancy rate stands at 4.7 percent, reflecting a 40-basis-point decrease quarter over quarter and an 80-basis-point decrease year over year, indicating a tightening market. Leasing activity remains robust, particularly in suburban areas of St. Louis, such as West County and St. Charles County, where vacancy rates have decreased by up to 140 basis points in the past year. This is being supported by a combination of steady population growth in the suburbs, shifting migration patterns and…

The post Redevelopment Projects to Reshape St. Louis Retail Corridors appeared first on REBusinessOnline.

Northmarq Secures $54M Refinancing for Mixed-Use Property in Alameda, California

Amy Works — Wed, 22 Oct 2025 14:02:17 +0000

ALAMEDA, CALIF. — Northmarq, on behalf of Alameda Point Redevelopers LLC, has arranged $54 million in financing for Storehouse Lofts, a residential mixed-use property located at 2350 Saratoga St. in Alameda. Storehouse Lofts is an adaptive reuse project that converted a former military warehouse into a modern 197-unit live-work community. Each unit is loft-style with open floor plans and high ceilings. Additionally, the 187,466-square-foot property features a gym, wellness center and roof deck, as well as a brewery and restaurant as commercial tenants. Dan Baker and Jason Szuminski of Northmarq secured the 10-year, fixed-rate loan through Northmarq’s correspondent relationship with Freddie Mac. The transaction refinances the original construction loan for the property, which is more than 95 percent leased.

The post Northmarq Secures $54M Refinancing for Mixed-Use Property in Alameda, California appeared first on REBusinessOnline.