The Evolving Brownfield Situation Essay

4378 words - 18 pages

pretty good wants a copy for his libraryA Discussion on:The Evolving Brownfield SituationReal Estate DevelopmentRick WoodruffOctober 20, 1996Preface:Stan Wilson and I (Josh Simon), conducted our research on Brownfields together. Upon discussion we realized that our two papers would be almost identical in content. In order to prevent you from reading two similar papers we decided to collaborate our efforts into a single essay. We believe that the following paper is a comprehensive discussion of Brownfields including their future role in development. The added length is necessary, due to the comprehensive nature of our discussion. The work necessary to complete this paper entailed more hours of work than if we were to each have written individual papers. In a class that revolves around our future role in the Real Estate Development process we felt it a waste of your time to read two extremely similar papers just for the sake of having two papers. If there is a problem with a collaborated effort we would be glad to redo the work in an individual structure and take whatever late penalties you deem necessary.Introduction:Brownfields are abandoned, idled or under-used industrial and commercial sites where expansion or redevelopment is complicated by real or perceived environmental contamination that can add cost, time and uncertainty to a redevelopment process. Throughout our country their are an estimated 450,000 brownfields. These vacant properties exist in our cities serving no productive purpose and act as both eyesores and environmental and economic pitfalls.Our inner-cities, where most brownfields exist, were once the only choice of development for our nations industry. However, with the birth of environmental law and regulation the redevelopment of these brownfields has become a complicated and often costly procedure. One that induces many businesses and corporations look outside our urban centers for growth and development. This trend not only leaves our inner cities vacant and economically decrepit, but also leads to urban sprawl, a phenomenon which induces the development of greenfields - or the undeveloped pristine land outside urban centers.The following essay presents a comprehensive study of 'brownfields.' First, we will examine the historical background of brownfields, both their physical creation and inception of brownfields status via the Superfund law. The background discussion will continue with an examination of redevelopment issues presented in a context of the current legal and economic framework. Following the background presentation, a description of recent and proposed governmental changes regarding the redevelopment of brownfields will ensue. Next we will analyze the potential benefits made possible by these recent changes. Case Studies will be included to exemplify how the past changes are working to our benefit and why we should continue in this direction. Lastly, the potential opportunities for developers will be furnished...

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