According to George Figliolia, president of Builders Group, such conversions require a disciplined, well-thought-out approach to maintain an efficient plan and budget.
"We go by a cliche here: When you are building a building new out of the ground, the only person in your way is yourself.
But when you are renovating an existing structure, the problem is what was put there by the team prior, and sometimes the mistakes they made become problems and headaches for [you]," said Figliolia
, whose company has worked on a number of historic projects in the New York City area, including many of the first conversions in Manhattan's red-hot Chelsea submarket.
explained, taking a facility built for one purpose and converting it to another creates a clash.
"To some degree you are fitting a circle into a square.
So a more diligent or more aggressive program prior to the start of construction is necessary whenever there is a change of use," Figliolia