• Municipal Regulation of Land Cleanup

Banner
 

Municipal Regulation of Land Cleanup:An Idea Whose Time has Come

Before selling your contaminated property to a Brownfield developer there are at least five burning questions that have to be addressed. Deterred by the fear of future liability or high cleanup costs, many corporations are compelled to leave contaminated Brownfield properties dormant for years or even decades. It is estimated that only 10% to 15% of Brownfield sites have been addressed, with more than 80% of the market untapped. Increasingly, as real estate values recover, corporations are revisiting the do-nothing approach to manage their balance sheet liabilities and turn distressed real estate assets into cash. Historically, eliminating Brownfield liabilities has been complicated and expensive. Today, selling a contaminated property to an experienced Brownfield developer can be an attractive option because it requires no cash outlay on the part of the owner, can often be completed quickly and requires little expertise to manage or navigate the environmental regulations. However, the original…Log In to Read Full Article

Related articles

City of Chicago Redevelopment Initiatives: Motor Row Study

The city of Chicago has a distinguished urban planning and design history and employs an advanced planning and development department to implement the city’s planning and redevelopment objectives. Chicago has long utilized the state of Illinois’ legislation allowing the creation of tax increment financing districts, or “TIFs, to effectuate these… Read more

An Upscale Coffee Shop That Doesn’t Jibe with Regular Joe

We have long chronicled stories at Renewal and Redevelopment about urban gentrification cases of the most visceral kind: Those cases where residents are displaced, banished to start anew in places they do not and have never called home. Gentrification “Lite” is when local residents aren’t forced to leave, but are… Read more

Driving Home a New Redevelopment Vision

Hey, owning a car and getting dibs on a permanent underground parking spot at a shiny new condominium is overrated, right? How about an urban redevelopment where everything is available in one place and parking has two chances: nil and void. At these visionary developments, there are point to point… Read more



Join NOW!
View more details!
Banner