Brownfields Development Issues
Author(s)
A. Bogen
Abstract
Brownfields, underutilized or abandoned industrial and commercial sites are a worldwide legacy. Regulations, resources and conditions vary from site to site but turn on universal concerns. The interconnectedness of health, economic and ecological issues become ever more apparent on, over and in the Earth. Successful Brownfields reuse means addressing these fundamental and connected problems.
An area with many Brownfields is the northeast United States. Connecticut, is a small state in that region with highly proactive policies. Four elements unique to Brownfields development are discussed below in the context of that state. The elements are Time, Regulatory Knowledge, Money and Will.
1 Time
Timelines are critical to the management of any real estate development project. Permits, financing rates and windows, seasonal concerns and tenant access impact all projects but are unresolved until the environmental matters of a Brownfields site are brought into focus. There are two blocks of time discussed below as lead-time and data collection time.
1.1 Lead-time
Some of the increased lead-time is due to negotiating access agreements necessary to perform the environmental assessments. Among other time consuming areas is encouraging a seller’s willingness to have testing results revealed since there is the perception that developing the data could trigger enforcement action. This is a real concern. The developer will have to determine the probable types of risk associated with the site, under the regulations. He or she will then have do determine who will pay for the
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