News
December 2009 Enewsletter - Sitting on a Gold Mine
Do you have land that is idle, vacant, or less productive than it ought to be? Are concerns about environmental contamination contributing to the problem? If you answered yes to both questions, then you might be sitting on a gold mine - a brownfield ready for redevelopment.
Despite the state of the commercial real estate market, savvy investors continue to find opportunity in brownfields. A recent spike in interest in brownfield projects can be attributed to an increase in brownfield development incentives from regulatory bodies at both the state and Federal levels. But that’s not the whole story.
Greater Demand for Green
Regulators at both the state and federal level have increasingly given priority to streamlining approvals for projects that carry a green dividend. Not surprisingly, most brownfield redevelopment projects fit the bill by creating green jobs and encouraging smarter land use that builds healthier communities.
Lower Remediation Costs
The refinement of remediation technologies like aerobic biodegradation has helped to dramatically slash remediation costs. Technological advances have also gotten greener over the years. The EPA’s call for an increase in green remediation practices has spurred new interest in using more fuel-efficient, eco-friendly and recycling-conscious techniques in the remediation process. Many of these new technologies help dramatically lower overall cleanup costs.
Time is Ripe for Brownfields
Even in a challenging economy, opportunities for brownfield redevelopment remain strong. Financing the cleanup and development of these projects is increasing as all parties - lenders, developers, regulators, the community and other stakeholders - work together to push the envelope on the enormous possibilities in redeveloping contaminated land.
Click to read about a Louisiana brownfield that is being transformed into a biomedical research facility expected to employ 300 staff members.
Learn more about how Piedmont Geologic can help pave the way for successful Brownfield redevelopment.
