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When renowned architect Carl Elefante once observed that “the greenest building is one that is already built,” he was speaking to the virtues of adaptive reuse as a vehicle for community revitalization, a concept that is not necessarily novel but is always evolving. Adaptive reuse is the practice of adapting existing buildings and structures to serve a function that they were not initially designed to serve. What’s more, an especially appealing aspect of adaptive reuse is that there is no limit to how much or how little of a building needs to be repurposed. While this practice has existed in some form for hundreds of years, it attracted widespread attention in the 1970s when environmental initiatives gained traction and developers recognized both an ethical and cultural obligation for landmark preservation as well as profit and gentrification. A half-century later, adaptive reuse is a necessity in a post-COVID world where previously filled office buildings now have substantial vacancies amid return-to-work initiatives, and where real estate professions now turn their attention to maximizing use and efficiency.
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Sui Generis: Collaborate Like You Mean It
By Lydia Pilch
Part Three of a Series
This article offers up some thoughts about how lawyers ought to access and manage resources in order to provide a multi-faceted, full-service approach to addressing their clients’ needs.
Court of Appeals Addresses Pretext By Municipalities As A Bar to Land Use Approvals?
By Steven M. Silverberg
Recently, there have been several instances in which municipalities have been challenged by property owners claiming that the municipal boards have utilized delaying tactics and other actions as a pretext to prevent development of their properties.
Court Caps Landlord's Bankruptcy Claim Against Lease Guarantor
By Andrew C. Kassner and Joseph N. Argentina Jr.
Given that landlord damage claims could overwhelm other creditor claims in a tenant’s bankruptcy case, the Bankruptcy Code includes a provision that limits a landlord’s claim, which presents challenges for landlords as creditors in bankruptcy cases.
Due Diligence Commercial Leasing Best Practices In New Jersey
By Zachary Rosenberg
Due diligence for CRE loans involves a comprehensive review and analysis of the various conditions and risks associated with the property being mortgaged, with the goal of mitigating such risks to the greatest possible extent before closing the loan.
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