What do you do with an office building without enough tenants? Repurpose it as luxury condos, play up its river view ... and watch affluent empty-nesters come buy!
Before:
(http://cdnassets.hw.net/dims4/GG/0ea2190/2147483647/resize/850x567%3E/quality/75/?url=http%3A%2F%2Fcdnassets.hw.net%2Ff7%2Fee%2F8387199649018d51f6d67878ea30%2Fresizes%2F1500%2Foronoco-waterfront-residences-before.jpg)
After:
(http://cdnassets.hw.net/dims4/GG/a40b7c6/2147483647/resize/850x567%3E/quality/75/?url=http%3A%2F%2Fcdnassets.hw.net%2F78%2Fd8%2F83ab0d894e61929da696c6e9875a%2Fresizes%2F1500%2Foronoco-waterfront-residences-after.jpg)
The building was situated in Alexandria, Va., a city of 150,000 in the backyard of the nation's capital. Yet, despite its convenient location and view of the Potomac River, most companies considered the structure's 155,000-square-foot footprint too small, its C shape awkward, its courtyard a waste, and its windows too small for sufficient natural light.
But developer EYA saw the site's potential. The firm, based in nearby Bethesda, Md., had completed enough adaptive-reuse projects to recognize a diamond, even if it needed substantial polishing.
EYA knew that the footprint that wouldn't work for offices could be ideal for residences, due to its single-loaded corridors. And with new, bigger windows, all the units would have ample light, many with riverfront views. The stepped-back configuration even allowed for multiple roof terraces.
http://www.multifamilyexecutive.com/design-development/mostly-vacant-office-building-nears-sellout-as-luxe-condos_o
the original building was cool looking as well. looks like a William Morgan
I've always wondered why our office buildings downtown don't do this... Middle income apartment, nothing too big or too fancy. Better to lease something cheap than nothing at all.
I am not positive what the current occupancy is of the riverfront building between the landing and the Hyatt - but that structure looks comparable to the example in NOVA above!
^^^I was thinking about that ziggurat-esque building as well.
That building is used by the Hyatt as meeting space. It is a part of the hotel.
http://www.eya.com/oronoco
We used to compare that building downtown that is now part of the Hyatt to a Maya Temple. I think it started as State Offices and we would joke that if someone screwed up they higherups would cut their hearts out and roll them down the stairs.
Maybe we could do this with the jail one day. Not a lot of square footage but those river views!!!
The building next to the Hyatt is a Morgan building but it is the Police Memorial building and is not owned by Hyatt.
I'm guessing the failure as an office building followed the typical trend of a large property management company's refusal to lower rents in the face of declining occupancy. I agree that the terraces and courtyard would be a waste of space in Alexandria VA, where it's pretty cold to spend much time outdoors for 1/2 - 2/3 of the year. But it was a cool original design.
Quote from: ChriswUfGator on January 26, 2015, 10:29:21 AM
I'm guessing the failure as an office building followed the typical trend of a large property management company's refusal to lower rents in the face of declining occupancy. I agree that the terraces and courtyard would be a waste of space in Alexandria VA, where it's pretty cold to spend much time outdoors for 1/2 - 2/3 of the year. But it was a cool original design.
LOL. It's the mid-atlantic, not Siberia. Sidewalk cafe's operate 8-9 months a year in Alexandria, this wouldn't be that different (also note one of the selling points of the condos are outdoor kitchens).
I went to military school not far from there, and it was freezing balls half the year. Of course being from Florida, I'd be the first to admit that what I think is cold is probably a balmy day to somebody who lives there and is used to the climate. I hated New Hampshire for the same reason.