Examples
Here are some common examples of real estate requalification.

* The construction of a real estate project on the ground of a brownfield. The use of space is changed (industry to residential) and the value of space, too (new property value).

* The conversion of a golf course into an integrated development project. Here, retail coexists with the residential function. Depending on the size of the project, a school can also be part of the project.

* The valuation of open-air parking in a multi-level building with several uses (shops on the ground floor, offices on the upper floors, and housing on the upper floors).

* The reconstruction of the city hall building into a multi-level building with private office uses.

Principle

Real estate requalification is the ultimate stage in the life cycle of a building or land. The current use no longer fits with the environment that has developed, and the dichotomy of purposes is becoming more pronounced. Also, the gap between what this space could bring in terms of land revenue relative to current income is growing considerably. Maintaining the current situation is tantamount to refusing to generate new property revenues. Change must occur!.

Commercial Requalification

It is possible to imagine a requalification by categories of urban assets: residential, institutional, cultural, municipal, and others. The commercial function is second to the residential domain in most municipalities.

Basics of analysis

Requalify yes, but to what use type? It is a fundamental question. How to identify the proper uses that adapt to the real estate environment?

The nature of the desired use defines the required needs for retail, the demand for local services, the urban density issues, the quality of the current or desired commercial vocation. There is, therefore, a precise methodology to support real estate requalification proposals that adapt to the local context of the city.

A priority concern for

All municipalities! Indeed, there is no minimum size from which requalification is possible. DEMARCOM has worked with cities and towns ranging in size from 5,000 to more than 86,000 people. All are getting older, but they do not all have to show urban wrinkles! The city is probably the only entity that rejuvenates as time goes by. But it is a cure that requires special care for youth to be maintained!

Contact us to discuss a plan to rejuvenate your territory.