An abandoned, idled or underused industrial and commercial property, the reuse or redevelopment of which is complicated by real or perceived contamination. Brownfield sites have received US EPA funding for redevelopment.
The news of late has focused on the economic troubles facing Puerto Rico's government, at the expense of the tremendous real estate investment opportunities on this Caribbean island," says David Southgate, Brownfields Project Director at the quasi-public Desarrollo Integral del Sur, Inc.
The Brownfield Incentive Grant is the first in a series of new programs for brownfields, and each will help land owners and developers cleanup contaminated properties and bring them back into productive use.
The optimism about brownfields policies has considerable staying power, in part because it rests on a foundation of specific expectations about brownfields, their cleanup and reuse, and assumptions about the typical site and typical developer.