Real Estate Development - Conversion of Type

It is common to see buildings that were built for warehouse / multi-family / office / light manufacturing / schools / converted to residential use. The "historic" use of the building has usually experienced a diminishing return.  Depreciation may have been the result of: building aging, shift in work force demographics ... The developer can gut the building and repurpose to a higher value - subject to zonning.

Real Estate Development - Conversion with Popup

In order to maximize the value of the lot a developer will add additional floors to the existing structure.  The roof comes off and the popup is built - subject to zoning setbacks and FAR.