Developing “brownfields” – those abandoned or underused places where past activities may have left behind environmental contamination – is a more and more common practice for real estate investors and developers. Why? Brownfields are often located in places that would otherwise be considered ideal for development, including downtowns, waterfronts, and next to residential areas that provide profitable opportunities for developers.
But, brownfield development has been proven more costly than development of “greenfields”, and present some obvious challenges. BDO Canada and Lucciano Piccioni, President of RCI Consulting, have detailed the challenges, and potential solutions or actions to mitigate them, that are essential for those contemplating brownfield developments. Check out their insights on brownfield development.
Tags: brownfields, construction, land development