Adaptive reuse projects have played an integral role in the resurgence and transformation of cities, including Los Angeles' transformation over the past decade. Architecture and design firm HLW is an expert in adaptive reuse projects and an ardent supporter of recycling and reusing buildings as a pathway to city growth. The firm says that existing buildings have an interesting history and adapting existing buildings is a more sustainable approach to development. The biggest benefit, however, is the value potential of adaptive reuse. Existing buildings have an an inherent value that can be elevated through a reuse project.

“Buildings, particularly industrial buildings that are at the end of their commercial cycle, are not desirable and do not garner market rental rates,” Mark Zwagerman, managing director at design firm HLW Los Angeles, tells GlobeSt.com. “Therefore, the property valuations drop because of poor performance. By developing a great design that takes full advantage of the inherent qualities of a building, and then adapting to a new use, the resulting rental rates and property valuations can multiply by three, four, or five times. In addition, most adaptive reuse projects are “by-right” developments that save a significant amount on time by not having to go through a lengthy entitlement approvals process.”