With the growing popularity in energy-efficient and eco-friendly buildings, you might decide to head into the world of redevelopment. Here’s what you need to know.
Redevelopment can help you turn an unsellable design into something popular and marketable, as some buildings are beyond repair. "Structural repair is not economically feasible to take care of seepage, weak walls and foundations, leaking water pipes,” says Dilip Shah, senior counsellor and analyst for redevelopment of housing societies.
Considering that there is a large amount of old design, unpopular and environment-sapping buildings that won’t sell within South Africa, you could devote a department of your construction firm to buying and redeveloping these buildings.
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These projects tackle the idea that new sustainable design cannot be achieved in the already industrialised environments found in developed regions.
Modern example of redevelopment
There are plans for the Tour & Taxis building in Brussels to be converted from a concrete heritage site into a green, sustainable, modern piece of architecture. This is to convert 19th-century brick, glass and wrought iron building into line with the goals of conservation in urban spaces.
“The ultimate goal is to create a genuine mixed-use eco-neighbourhood where it is pleasant to be, work, live and play; an eco-neighbourhood along the Brussels canal, articulated around three axes: revitalisation of the built heritage, sustainable communities, and water,” say the architects.
Here are some advantages and disadvantages to redeveloping buildings old, unpopular concrete buildings into something to fit the global wave of sustainability and environmentally friendly construction:
Advantages of redevelopment
An advantage to redeveloping an existing building is it will last longer than a building that is repaired or renovated. According to Redevelop Mumbai, a project management consultancy that has handled over 45 redevelopment housing societies in Mumbai, the repair work of a building which is already 25 years old will only increase the life of the building by three to four years. Whilst, redeveloping the building and including sustainability, energy efficient and environmentally friendly features will ensure the building remains an advert for your construction business for many decades to come.
Another advantage is that with redevelopment new up-to-date amenities and features can be incorporated into the building. The owners also get a new building, more space and monetary benefits from the same piece of land. Shah says: “The developer can offer extra amenities including a gymnasium, a generous car park, and high-end security systems.”
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Disadvantages of redevelopment
Redeveloping a building within a community can cause friction if you’re replacing a two story building with a 20 storey tower. “Builders should be transparent, reliable and trustworthy. The most recommended way to choose a builder is to go by the tendering system,” said Shah. Remember to get the consent of society before being your redevelopment or you might find yourself in a draw out, expensive civil case.
Another disadvantage or obstacle is that the tenants of the building need to relocate while the building is being redeveloped. Considering that it takes 18 to 24 months to complete a project, without any unforeseen delays, the building may lose tenants who decide to remain in their relocated space, which won’t make you successful in the eyes of the property owner.
- There are plans for the Tour & Taxis building in Brussels to be converted from a concrete heritage site into a green, sustainable, modern piece of architecture.
- Redeveloping an existing building will make it last longer than a building that is repaired or renovated.
- Redevelopment can include new amenities, which can be incorporated into the building.
- Redeveloping a building within a community can cause friction if you’re replacing a two story building with a 20 storey tower.
- Another disadvantage or obstacle is that the tenants of the building need to relocate while the building is being redeveloped.