Zarwin, Baum, DeVito, Kaplan, Schaer, Toddy P.C.
Paul M. Schmidt
July 25, 2017
Location, Location, Location. This remains one of the critical aspects of real estate development. The other is that “it’s not about the money, it’s about the money.” So, while the redevelopment of Brownfields makes people feel good, at the end of the day, a Brownfield site has to be in the right location for a redeveloper or buyer, and has to make economic sense. Currently, a number of trends in real estate desirability are making Brownfield sites the perfect location for redevelopment and reuse. At the same time, as programs concerning cleanup, funding and risk management have become more favorable, the return on investment, or economic viability, of properties has also increased. This article will examine some of the key aspects of desirability and viability that are working together to make Brownfield redevelopment increasingly attractive in today’s real estate market.