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New Multiplex Versus Conversion: What Should Owners Consider?
Comparing a new build with converting the building you already own.
Conversion
Keeping the existing structure can reduce demolition and some material costs. However, older buildings can hide structural, fire-separation and system upgrades.
New construction
A new building allows an efficient layout and modern systems throughout. It usually involves higher upfront cost and a longer approval and construction timeline.
Deciding
The right choice depends on the condition of the existing building, the unit count you want, your budget and how long you plan to hold the property.