7. Determine what features can and should be saved

Prioritize the systems and features that need to be updated. Obviously, each one of these listed items has a cost to the owner/developer on the one hand and a potential value to the future end user/lessee on the other.

“We were renovating a 1970s high-rise in a downtown area with an air exchange rate of nine cfm, which was totally unacceptable, of course,” says Mirrielees. “We used the abandoned mail chutes in the building as vertical shafts to increase the air exchange rate to 20 cfm.”

If mechanical units, system controls, and lobby lighting have recently been replaced or updated, investigate the possibility of seeking an Energy Star rating, which signifies that the building’s energy consumption is below the standard for buildings of its type and size. This tells potential occupants or tenants they can expect generally lower utility expenses than in a conventional building.