If you have been paying attention to commercial real estate in the Palm Beaches, you have probably heard the term adaptive reuse with increasing frequency. Adaptive reuse, or revitalizing older structures and making them functional for today, has become popular throughout South Florida. Here are some recent adaptive reuse developments in the Palm Beaches.
What is Adaptive Reuse?
Adaptive reuse is essentially repurposing a traditional or iconic building while maintaining certain aspects of its personality and design. Unlike a demolition, an adaptive reuse project involves a developer using a classic building for new purposes and keeping key elements of the property’s character. These projects aim to preserve historic buildings and beloved community structures, while breathing new life into empty and underutilized spaces.
Adaptive Reuse in the Palm Beaches
Palm Beach County is no stranger to adaptive reuse projects. In 2011, West Palm Beach rejuvenated the 1925 Riddle House, when it renovated the space into The City of West Palm Beach’s Employee and Family Health Center. In April of this year, the Jupiter town council approved a historic preservation incentives program with the hope that, in combination with its adaptive reuse ordinance, more of its classic properties could be preserved and repurposed. In Wellington, the adaptive reuse of the Starwood Entertainment Complex at Wellington Green, has won design awards and been highly praised. Wellington also has several repurposed retail spaces and areas that may ultimately become the site of adaptive reuse projects. Just last month plans were revealed to convert the former Palm Beach Post Office campus into a 265,000-square-foot mixed use project. The plans include using the space for office, retail, and entertainment that is geared towards West Palm Beach’s young professionals and emerging business culture.
The Future of Adaptive Reuse in South Florida
The adaptive reuse trend appears to be popular with consumers in Florida and throughout the United States. The communities of Palm Beach County are growing, and there are strong indications that the commercial real estate market will continue to see more of these projects develop in response to the increasing population. Additionally, commercial real estate both in and around Palm Beach is likely to remain in high demand. Those looking to buy in these areas can use adaptive reuse as a means to forge new investment opportunities through the innovative adaption of community structures.
Entering into an adaptive reuse project can be an exciting endeavor, but it’s essential to take the right steps beforehand. One of the most important tasks to complete is contacting an experienced Florida real estate attorney who can help you examine and understand the different aspects of your project.
At Rabideau Klein, we have extensive experience handling real estate matters in the Palm Beach area. Guy Rabideau, Esq. and David E. Klein, Esq. are Florida Board-Certified Real Estate Attorneys with the experience you need to evaluate your Palm Beach County adaptive reuse real estate project. Contact Rabideau Klein today to discuss your real estate legal needs.