2026-09-19T10:42:51Zhttps://dspace.mit.edu/server/oai/requestoai:dspace.mit.edu:1721.1/297732026-06-06T01:04:51Zcom_1721.1_7582com_1721.1_7581col_1721.1_131023
William L. Porter and David Geltner.
Loomis, Benjamin A. (Benjamin Alan), 1971-
Massachusetts Institute of Technology. Dept. of Architecture.
Massachusetts Institute of Technology. Center for Real Estate
Massachusetts Institute of Technology. Department of Architecture
2006-03-24T16:24:06Z
2006-03-24T16:24:06Z
2003
2003
http://hdl.handle.net/1721.1/29773
54755361
Thesis (S.M. in Architectural Studies; and, S.M. in Real Estate Development)--Massachusetts Institute of Technology, Dept. of Architecture, 2003.
Includes bibliographical references (p. 133-137).
Utilizing recent research into building life cycle analysis and option valuation theory, this thesis develops an architectural methodology for analyzing buildings' "capacity for change," and economic models for valuing this capacity. Together these can be used to evaluate strategies for the design, investment, and development of new and existing buildings. Two hypothetical case studies illustrate the methods and models, and produce results which challenge conventional wisdom. One case study suggests that including a redevelopment option can increase the valuation of moderately performing assets by up to 25% over conventional discounted cash flow analysis, even when redevelopment is not economically feasible in the near term. The other case study fInds that when zoning allows, the design and construction of a building which can flexibly switch between multiple uses can be economically viable, even when substantial additional costs are incurred.
by Benjamin A. Loomis.
S.M. in Architectural Studies
S.M.in Real Estate Development
145 p.
7484550 bytes
7484357 bytes
application/pdf
application/pdf
eng
Massachusetts Institute of Technology
M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission.
http://dspace.mit.edu/handle/1721.1/7582
Architecture.
The value of flexible design : real estate investment and development strategy under uncertainty
Thesis
application/pdf
Publication
unknown
unknown
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