ARLINGTON, VA. - This morning, Arlington business and government leaders attended Adapting to the New Normal held by the Arlington Chamber of Commerce. Sponsored by Walsh, Colucci, Lubeley, and Walsh, P.C., this event spotlighted the benefits of Arlington County's proposed policy on the adaptive reuse of office buildings.
Adaptive reuse changes the primary use of an office building to an alternative such as residential or hotel use, while maintaining most of the building's exterior. As Arlington combats a historically high commercial vacancy rate, finding policies to alleviate the oversupply of uncompetitive office space is crucial. Arlington County is considering an adaptive reuse policy that streamlines the process for such projects, reducing excessive costs in both time and resources.
The event began with opening remarks from Ryan Touhill, Director of Arlington Economic Development. Touhill provided an overview of the economic landscape of Arlington, comparing the changes needed to tackle the problem of commercial vacancies to the changes Arlington underwent with the arrival of Metrorail in the 1970s.
Following Touhill's presentation was a panel discussion composed of Kate Ange, Deputy Director of Arlington Economic Development; Bob Bushkoff, Vice President of the Dittmar Company; Kevin Yam, Vice Chair of the Arlington County Economic Development Commission; and moderated by Andrew Painter, Shareholder with Walsh, Colucci, Lubeley, and Walsh, P.C.
The panel began with a discussion of the economic health of Arlington and the region, focusing on concerns about the high commercial vacancy rate and its impact on commercial tax revenue. Kate Ange spoke to the need of policy solutions to address the oversupply of uncompetitive office space, such as adaptive reuse. She also noted that adaptive reuse is a part of the broader Commercial Market Resiliency Initiative, which began with permitting new specific uses in office buildings, and now moving to changing processes as a method to reduce office vacancy.
The panel emphasized that even if only a handful of adaptive reuse projects are realized, that could have a significant impact on vacancy. "Adaptive reuse may realistically apply to just ten buildings, but those buildings under adaptive reuse could take as much as 20% of the vacant space off the market," noted Kevin Yam.
The panel continued with a conversation on the existing processes for adaptive reuse and conversions, with Bob Bushkoff discussing the Dittmar Company's experience going through permitting for an office conversion project in Fairfax County. Panelists also noted the need to consider amendments to the Site Plan amendment process to reduce the cost in both time and resources to amend site plans, which can dissuade developers and investors from reusing or repurposing office space.
|