Transformations and redevelopments
There’s a growing demand for space to live, work and relax in the AMA. At the same time, however, the region is facing building vacancies. Transforming offices in particular is one way of catering to housing demand, and this includes housing for the aged and vulnerable target groups. Workspace, hotels, cultural breeding places and buildings, and schools are also created in the course of the transformation. The AMA is addressing office vacancies, as well as vacancies related to other kinds of real estate such as business space and social real estate. The transformation of an office block into a residential building or hotel is doomed to fail unless the associated zoning plan is adjusted. Transforming a building is not something that can be done overnight. It often takes the owner some time to reach a decision to change the building’s function. Creativity and time are then needed to come up with a solid, feasible plan. A distinction can be drawn between three different kinds of transformation: conversion, demolition/new construction and concentration.
Why invest in Transformations and redevelopments locations?
ConversionFrom a government perspective, AMA real estate owners, initiative takers (or owners), surrounding residents and the other parties involved offer active assistance in transforming their real estate. This pertains to policy and administration, as well as technical matters.
Within the scope of conversion, the office block remains intact and its transformation into a hotel or residential building takes place within the outer shell. This is a form of recycling, focusing specifically on the inner-city areas within the AMA.
Demolition/new constructionTransformation can also be achieved through demolition/new construction. Office and/or business locations developed in the latter half of the previous century often fail to comply with today’s stringent qualitative and sustainability requirements. In order to give the business community an opportunity to continue developing, while also making sure the AMA remains attractive to prospective businesses, the demolition/new construction option is often the preferred choice. A vacant office block can then make way for a new office development, the new construction of houses or a combination of the two.
ConcentrationWithin the AMA, one of the most important considerations is whether new developments take place within existing urban areas or beyond them, multi-functional areas versus mono-functional areas. Mono-functional industrial estates and office locations have been hard-hit in recent years. Multi-functional urban areas in or surrounding the centre are often considered attractive. In order to create multi-functional areas through urban concentration, residential housing can be developed in addition to office blocks, enhancing the level of liveliness during the daytime and at night.
Prime transformations and redevelopments assets