28 February Historic Restoration: How People Save Buildings with a Story February 28, 2024 By Melisa Rana Property Investment, Property Maintenance building renovation, business tips, exterior maintenance, interior maintenance 0 HISTORIC RESTORATION: HOW PEOPLE SAVE BUILDINGS WITH A STORY February 28, 2024 | Property Maintenance, Property Investment | business-tips, exterior maintenance, , interior maintenance, building renovation It’s been a long road, but after fires devastated the Notre Dame Cathedral back in 2019, the historic landmark is finally preparing to reopen its doors later this year. Restoring and renovating historic buildings can be costly and time-consuming, but the cultural, educational, and economic benefits down the road often make the effort worthwhile. A building doesn’t need to be internationally recognized like the Notre Dame Cathedral to justify the investment of a restoration, though! Every city has its own share of locations that carry historical significance. But preserving history isn’t the only reason property owners find these projects worthwhile. According to the Environmental Protection Agency (EPA), building preservation can also improve sustainability on top of the community revitalization and economic benefits. For any property owners interested in restoring or updating a historic property, here are a few things to consider! Modernize with Care A common misconception during restoration is that modern amenities are out of the question, but this isn’t the case. Building system standards are improved upon every year for safety and efficiency, and restorations are the perfect opportunity to bring historic properties up to speed. The challenge comes with updating without compromising the building’s integrity. Depending on the age, many updates may cause structural instability due to the different construction techniques of the time. Contractors with unique skills and seldom-used, authentic materials may be needed to avoid larger-scale deconstruction. While these prerequisites will undoubtedly make the project cost more than is typical, the savings from reducing heat and energy inefficiencies alone can stack up over time. In some ways, modernizing during restoration is about investing in the future while preserving the past. Preserve as Much as Possible Before reconstruction, research the historical significance of the building as well as the context in which it was built. Strange construction and layout design choices might have been done for a specific purpose and should be preserved if possible. Additionally, keeping and reusing materials from the original building is key to retaining the character of the property. Without researching and understanding your historic property, crucial aspects of its story can be mistaken as defects and removed. Instead, property owners who highlight the unique characteristics of their assets can increase interest from tenants and elevate their overall portfolio. Utilize Preservation Resources Historic buildings need to be compliant with unique building codes and regulations, so owners and managers who are unfamiliar with the process would be wise to contact preservation specialists for advice and direction. Navigating the unique nuances of these standards can be tough, but preservation specialists might even recommend funding and grant resources to help finance restoration efforts. Restoring a historic property can be a rewarding way to enrich a community and breathe new life into a business. To make the process move as smoothly as possible, it’s also smart to partner with an experienced property inspector to ensure every box is being checked and nothing is overlooked! For any purchase or sale, stick with National Property Inspections for all your CRE inspection needs! Comments are closed.