'Adaptive reuse' trends in US property market

by The Manila Times

Jan 24, 2022 12:03 am

WASHINGTON, D.C.: Blocks from the White House, an unassuming edifice in downtown Washington that once held offices used by the US Department of Justice is set to be converted into homes for hundreds of people.

The transformation of the vacant office space is among a surge of 'adaptive reuse' projects that swept the US property market in 2021, where developers bought hotels and offices that were struggling to get business and announced plans to turn them into apartments.

CREATIVE CONVERSION View of the lounge area at the Wray building in Washington, D.C. on Jan. 20, 2022. Blocks from the White House, an unassuming edifice in downtown Washington that once held offices used by the US Department of Justice is set to be converted into homes for hundreds of people. AFP PHOTO

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

US unemployment claims hit 8-month low

Oil prices settle up on China optimism

Crypto industry hopeful of Trump policy overhaul

China to increase 2025 treasury bond funding

Chinese EV giant BYD sales surge in 2024

Apple agrees to $95-M deal to settle Siri eavesdropping suit

Singapore economy grows 4.0% in 2024