Redevelopment and Restoration
The reuse or redevelopment of former industrial or commercial properties may occur under a Brownfield, Superfund or even RCRA program. Converting contaminated properties back to productive use has produced numerous benefits including creating new jobs, increasing the local tax base and the value of adjacent property, and mitigating public health and safety concerns. Redevelopment allows the reuse of existing infrastructure, utilities, roads, and services. It also reduces sprawl, preserving open space and farmland, or greenfields. Redeveloped properties can improve community image, restore an old urban center or revitalize a neighborhood.
Likewise, restoration of property back to its undeveloped use including prairies, wetlands, or other habitats can bring a balance to a community, improve water quality and flood control and reintroduce wildlife such as birds and mammals.
Redevelopment is often linked with brownfields. The United States Environmental Protection Agency (EPA) defines a brownfield as "vacant or underused commercial or industrial property where environmental, economic and social obstacles hinder use and redevelopment." (EPA, 1999). The term greenfield is generally considered to be the antonym, referring to property which has not been previously developed beyond agricultural use, and for which environmental contamination is generally not a development issue.
Each redevelopment is different depending on the ownership, remediation, financing, end use of the property. The four main components in the redevelopment process include: initiation, evaluation, transaction and implementation. For more information on the redevelopment process click here.
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