Redeveloping Brownfield Properties — A Simple Guide to SuccessSo — you want to redevelop your brownfield site and you are wondering what steps to consider? If you are a developer, a municipality, or a non-profit organization there are several initial questions and actions to consider. In my experience there are three items that you should always explore: Potential environmental impacts or liabilities; the future reuse of the property; and how to fund the work you need to make your vision a reality. Environmental Due Diligence: In this day and age, with due diligence having been a key topic for decades, it is still surprising to find savvy investors still purchasing properties — some with obvious environmental impacts — without performing their due diligence prior to purchase. I met with one of these last week who purchased by tax sale a very large former industrial property with known impacts. While there are still some mechanisms in place to fund…Log In to Read Full Article
Writing for Dollars: Winning Grants for Redevelopment
Securing brownfields redevelopment funding through the U.S. EPA involves a competitive process that requires submitting a grant proposal. The proposal must detail the type of grant sought, the work proposed, the additional funding that could be secured to guarantee completion, how the work will be implemented to safe guard effective… Read more
Oregon Land Bank Is Branching Out in 2016
As in many states throughout the country, the redevelopment of contaminated real property in Oregon’s urban, suburban, and rural communities is a problem. In the Portland metropolitan region alone, there are approximately 2,300 brownfield properties, covering approximately 6,300 acres that represent almost 7% of all commercial/business properties within the Metro… Read more
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… Read more