Imagine your company is ready to expand or relocate, and you find two sites that are about the size you want. The first property is a wooded pasture
surrounded by fields and trees. The second site is in the middle of what used to be the industrial hub of the town, with more streets than trees nearby. Your structural engineer says the former warehouse on the second property is sound, but the orange shag carpet in the office area tells you redecorating will be a must.
Your real estate agent says the second site is a "Brownfield," meaning, according to the Environmental Protection Agency (EPA), an abandoned, unused, or under used industrial or commercial facility where expansion or redevelopment is complicated by real or perceived contamination. Sounds a little scary, you think. You like nature, you want your clients and employees to be happy with your new location, and you haven't won the lottery so money is an issue, too.
Two possible sites, and one question: Why would you want to consider redeveloping a Brownfield property? Some of the reasons for considering revitalizing a Brownfield site include:
Location, location, location! Because many Brownfield sites were developed early in the town's history, they're often in prominent locations.
You can get there from here. Brownfield sites are often in urban centers near highways, airports, railroads, and rivers, allowing your customers, suppliers, and employees easy access. If you've ever tried to drive a delivery truck down a winding, rural, unplowed road after a snowstorm, you appreciate the accessibility of most Brownfield sites in any season.
The gift of pre-purchase pre-construction perks. Brownfield properties usually are zoned for commercial or industrial activities, and already have been connected to public utility systems. In addition, many properties include structurally sound office or warehouse buildings that just need remodeling. Even with damaged buildings, the foundations, basements, and loading docks can often be salvaged. And since many Brownfield sites are in industrial parks, service drives and inroads may also be in place.
Never underestimate the power of public goodwill and personal satisfaction. Preserving farmland and other green areas while encouraging businesses and industries to expand at the same time are increasingly important goals for the public and zoning boards. Revitalizing and reusing properties already "under roof and pavement" is an option that more companies are putting to good advantage, creating win-win situations for everyone.
Diverse, often advantageous financing. Funding sources for a Brownfield redevelopment project can include a range of possibilities, from traditional bank loans, economic development grants, and city and county bonds, to tax increment financing, and more.
Experienced help to address the "perceived or real contamination" is as close as your phone. Brownfield redevelopment projects have been completed successfully throughout the country for years now. Following established procedures and guidelines, a company like Bowser-Morner with Brownfield redevelopment experience can help you through the process. Just call us.
If you think a Brownfield site might work for you, call Tom Kiger at (419) 691-4800. He'll be happy to talk with you. And if you'd like, you can take a tour of our own Brownfield, our Toledo location, and see just how green a Brownfield site can be!
If you'd like more information about how we can help you with Brownfield sites, please let us know.
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