Renovate or build new? This age-old question goes far beyond renovation vs. new construction because it involves multiple issues and community stakeholders. However, the answer is very straightforward: provide the best place for students to learn.he estimated cost for a moderate renovation with an addition was $5.3 million, versus $10.9 million for a new building. To green it up even further, new ventilation, air conditioning, and more natural light were added to the facility. The building also presented the ideal opportunity to recast current space.