10 Reasons Why You Should Consider Repurposing Space in 2021
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10 Reasons Why You Should Consider Repurposing Space in 2021

Photo credits: Infinity Group (left) and Flickr (right)

 

10 Reasons Why You Should Consider Repurposing Space in 2021 

 

“Every day, you reinvent yourself. You’re always in motion. But you decide every day: forward or backward.” —James Altucher

 

Reinvention is an artform. We’ve all heard countless reasons why a fresh approach can improve our personal lives (especially this year), but reinvention of our physical space is just as important. 2020 has brought seismic shifts to daily routines and habits. While 2021 is looking incredibly promising, there are parts of our current routine that may stick around for the long term. With that in mind, we know that the way we utilize commercial space will change as we emerge from our current situation. Whether you own, rent, or use commercial space, it’s time to get creative, and Infinity Group is here to help with 10 reasons why you should consider repurposing space in 2021.

 

 

1) Empty space is expensive.

This may seem obvious but consider that empty commercial square footage is costing you much more than lost rent. There’s a much higher cost that is often hidden – lost potential. If a vacant space is significantly upgraded or reimagined for another industry, could it command higher rents than you are currently asking for?

 

 

2) A new use can spark positive growth and momentum.

Repurposing one part of your property can build synergy and attract even more growth in your building and nearby. Take this former mall, turned corporate headquarters in San Antonio, TX. Windsor Park Mall was a shopping mall that closed its doors in 2005. Two years later a web hosting company called Rackspace repurposed the sad, empty mall into beautiful talent-attracting office environment with all the bells and whistles. More recently, the development attracted a digital customer service company TaskUS, and Infinity Group designed and built their colorful, creative space.

 

3) Hotels are repurposing rooms as remote workspaces.

 

4) The cost of architecture and construction is the lowest it’s been in years.

 

5) The price of materials is set to increase as demand increases.

In fact, prices of construction materials have already started to track upward toward the end of this year.

 

6) Construction can happen efficiently in unoccupied space

10 Reasons Why You Should Consider Repurposing Space in 2021

Photo credit: New York Times

 

7) Malls are doing it.

Across the country, the shift to online shopping has been a difficult for brick-and-mortar stores. Did you know that even Google has jumped on this trend that started long before this year? With plenty of parking and, and ADA compliance, and soaring ceiling heights, malls can provide the perfect blank canvas for something new.

 

8) Empty buildings and blight ruin neighborhoods and cities. Infinity Group is part of the solution. We actually partnered with a property management company in New England with tremendous results. We took their 5 story, fully commercial building, designed and repurposed it for residential apartment use.

 

 

9) With the expected increase in subleasing and demand on good talent, it’s important to have your space stand out from the crowd.

As subleasing and leasing activity increases over the next few months, boring, drab offices just won’t cut it. Many companies know their most of their workforce has gotten comfortable with remote working and the comforts of home. But what about the amenities of a proper, modern office? It’s going to take more than the basics. Attractive lighting, comfortable furniture, a clean café space, and private booths for quiet solo work are in high demand. Also, don’t forget about a wellness room. These private spaces are popping up in the best offices and can be used by new mothers who need space to pump, someone who wants to pray, or employees looking for a spot to get a 15-minute meditation in. Getting everyone back in the office will take some convincing, and a spectacular workspace environment will make your property attractive.

 

 

10) Run-down restaurant spaces can have a second life too.

Location, location, location. Infinity Group is currently working with a developer to take a worn-out restaurant building, and we are designing it as a mixed use commercial and residential building in a prime location. It’s close to life’s essentials and has the potential to transform what’s possible for the surrounding businesses.

 

11) The world needs your creativity.

Why not trust your gut, and take on that audacious project you’ve been putting off? Smart real estate professionals and business leaders are realizing that there is tremendous potential in this moment if they act now.

 

Infinity Group can help you get started and literally bring your project from dream to reality. At Infinity Group we design and build beautiful commercial workspaces for companies across the country. Our founders started off in the trades and discovered a problem. Projects are more stressful, complicated, and costly when companies hire an architect, designer, and builder separately.

 

Infinity Group is the solution because we know together, we can do more.

 

10 Reasons Why You Should Consider Repurposing Space in 2021