Taras Legar says adaptive reuse can unlock hidden real estate value

International architect Taras Legar argues investors are overlooking value in the buildings they already own as new construction costs hit record highs. In a new Realty Times column, Legar says adaptive reuse can dramatically expand usable area without increasing a building’s footprint.

Why it matters: - Adaptive reuse can create more usable space from existing buildings without the cost and constraints of new construction. - Legar’s case is aimed at investors and developers facing record-high commercial construction costs and limited access to quality locations. - The approach can change how a property is priced, financed and redeveloped.

What happened: - Taras Legar, an international architect and interior designer, published a new expert column in Realty Times. - The column argues that buildings with outdated functions are often undervalued because their structural potential is not fully examined. - Legar has more than 25 years of international experience leading major commercial design projects across Europe and the United States. - The column is titled “Adaptive Reuse: How Changing a Building’s Function Unlocks Hidden Real Estate Value.”

The details: - Legar says investors often price a building based on what it is doing today, not on what its structure could support. - Foundation depth, ceiling height and structural load capacity can reveal options that current market price does not reflect. - Legar says a structural survey before a sale or redevelopment decision can change the financial picture. - One case study describes a 269,000-square-foot indoor aquapark built on the third floor of a major retail complex. - That project turned the property’s least productive zone into its main driver of foot traffic. - A second case study shows a 9,150-square-foot industrial warehouse converted into a more than 32,300-square-foot corporate headquarters for a major technology company. - That conversion increased usable area by more than three times without expanding the original footprint. - A third project in Florida is converting a 6,330-square-foot warehouse into a premium automotive showroom. - That Florida project increased usable area by 23% through vertical zoning. - The Florida conversion was enabled by the building’s existing 24-foot ceiling height. - The column includes a practical checklist for investors and developers considering adaptive reuse. - The checklist covers how to assess real structural potential, what regulatory changes a new function can trigger and where unplanned costs often arise if those issues are not addressed early. - Legar is the founder of Leg-Art studio. - Legar has led large-scale commercial projects including shopping centers, casinos, corporate offices, retail spaces and hospitality environments. - Legar is based in Raleigh, North Carolina, and works in both the United States and European markets. - The full column is available here. - More information about Taras Legar and Leg-Art studio is available here. - Taras Legar also shared social profiles at Instagram and Facebook.

Between the lines: - Legar’s argument suggests the value in commercial real estate may sit in physical attributes that are easy to overlook during a standard valuation. - The examples point to a larger shift toward squeezing more utility from existing assets instead of expanding development footprints. - The checklist signals that adaptive reuse is not only a design question, but also a regulatory and cost-management exercise.

What's next: - Investors and developers evaluating older properties may need deeper structural due diligence before deciding to sell, hold or redevelop. - More projects may pursue vertical zoning and other reuse strategies if they can increase usable area without new land acquisition. - Legar’s column is positioned as a guide for identifying those opportunities earlier in the process.

The bottom line: - Adaptive reuse can turn overlooked building capacity into measurable real estate value, especially when construction costs and land scarcity make new development harder to justify.