State and local governments are finally moving out the way so that moribund strip malls and high-rise towers can be converted into desperately needed apartments, condos and townhomes.
, is planning to use AB 2011 to develop up to 200 affordable units on a 5-acre vacant commercial lot outside Sacramento. His firm, which specializes in building homes for low-income families, veterans and formerly homeless people, is also looking to acquire empty shopping centers surrounded by sprawling parking lots for development.
AB 2011 is aimed at putting new residential construction on commercial lots. But there’s also finally momentum to ease restrictions on adaptive reuse, particularly as more offices sit empty after the shift to remote work. Converting existing office and retail buildings makes a lot of sense. The projects can help inject new life into sleepy commercial centers, preserve local architectural history and character, and reduce the environmental impacts of new construction.
But adaptive reuse can be just as expensive as new construction, which is why the state budgeted $400 million over two years to encourage private adaptive reuse projects.
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