2012 White Paper: High-Performance Reconstructed Buildings: The 99% Solution
Reconstruction in its many forms—tenant improvements, retail fitouts, adaptive reuse, historic preservation, gut rehab, and so on—is keeping many design and construction firms solvent.
The collapse of the U.S. housing market in 2007-2008 precipitated a nearly commensurate downturn in new nonresidential construction in the United States. Filling the gap, at least to some extent, has been reconstruction.
Architecture, engineering, and construction firms that once realized less than 20% of their revenues from renovation work are now performing 30-40% of their work in reconstruction. Another telling metric: LEED for Existing Buildings has now surpassed LEED for New Construction in total floor space. It is no exaggeration to say that reconstruction is keeping many AEC firms afloat.