The reality of living in the city is that space is a commodity. (and one which you will pay through the nose for) Yet in every city around the world, there are areas that seem like industrial wast lands. Warehouses once filled, no doubt, with valuable goods, now stand abandoned and unloved like a woman who has taken to growing a beard. The solution. A loft.
The ideas is simple. Turn unwanted commercial real estate into artsy "open plan" residential real estate. This has the effect of jump starting any gentrification that is planned for the area by attracting hipsters and other trendy, sporty. active, young, urban (ok, i think you get the idea right) individuals.
Warehouses are perfectly suited to becoming residential real estate because they typically have few interior walls, and low maintenance exterior finishes.
This type of home isn't without it's drawbacks though.
- Tend to be pricey
- Depending on the location, parking spaces may be expensive or even non-existent.
- Property tax can be high
- Exterior may seem plain to some
- The home may need extensive reconditioning to be habitable, especially if it was previously used for heavy industrial manufacturing or chemical storage.
However you look at it, its yet another option that urban home buyers have in today's market.