by Jeff Campbell, Peak Environmental
Identifying real estate available for purchase is a simple process through the well-established commercial and industrial real estate markets that realtors, developers, lenders, insurers and attorneys participate in every day. Locating environmentally impaired and underutilized property that is available for purchase and redevelopment as part of a local or state redevelopment plan is another matter, yet it is the first critical step in the Brownfield process. State Brownfield programs that include formal designation of redevelopment areas, liability management, and financial incentives have greatly enhanced connections, leading to countless Brownfield success stories across the nation. Local governments actually hold title to a limited number of properties in need of redevelopment, therefore, privately owned properties represent the primary source of Brownfield opportunities.
November 17, 2022