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Brownfield Redevelopment: Problem or Profit?

According to the N BAs (N BA), there are approximately 500,000 and probably more than 1,000,000 brownfield sites in the United States alone, representing 2.5 to 5 million acres. They further estimate that environmental hazards are present in 20 to 50 percent of all existing industrial real estate properties, devaluing such by as much as $2 trillion. In addition, with the adoption of the Sarbanes-Oxley Act of 2002, and the Financial Accounting Standards Board Interpretation Number (FIN) 47, companies are required to estimate and report the extent of the cost of their liability for their contaminated sites. This may force a large and growing number of companies to put their mothballed contaminated sites onto the market. Further, advances in cleanup or remediation technology are making more and more brownfields economically developable. Estimates vary, but those in the brownfield industry generally agree that anywhere from 80-95 percent of these sites could…Log In to Read Full Article

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