Why consider buying a brownfield for commercial or industrial development?
For several reasons: First is the potential for a profitable development. Second, incentives are available for brownfields that aren’t available for normal developments. Third is the satisfaction of converting a problem property to a productive property. Fourth, you improve the impact on the environment. What issues are associated with redeveloping a brownfield? Brownfield redevelopment can be challenging but very rewarding. Because you are dealing with contamination, the process of identification, cleanup, due-care planning and applying for brownfield incentives takes longer than a normal real estate development. Developers need to plan for the process to take more time than with a nonbrownfield. When working with municipalities and other government agencies on a brownfield redevelopment, it is best to fully understand the process required by the municipality prior to the commencement of the project. It is critical to contemplate issues early in the process and assemble an experienced
