US brownfield redevelopment being stalled by recession

USCM_Logo.jpg
 

Contaminated sites in major US cities offer major opportunities for regeneration but redevelopment is being hampered by the recession, according to a new report from the United States Conference of Mayors.

The Conference's eighth annual brownfields report reveals that the 136 cities collectively have 22,537 contaminated sites averaging 3.5ha but overall they estimate they have 24,590ha of brownfields (i.e. contaminated land).

120 cities reported that 3,035 sites have been mothballed, i.e., the owner has no intention of redeveloping or selling due to environmental concerns.

"Cities who were experiencing a redevelopment renaissance and residential boom are now facing economic decline and an increase in foreclosed properties," said J. Christian Bollwage who co-chairs the Conference's Brownfields Task Force.

"There is still a renewed interest in developing city centres where residents can move closer to their jobs and reduce commuting costs. Brownfield properties are still a value in redevelopment, with an increase in green technology and the reduction of energy costs, cities are finding it easier to redevelop and remediate properties then start from scratch.

The report says that if brownfield sites were redeveloped, the cities could realise an extra $688m-$1.66bn in annual tax revenues and that 230,000 new jobs could be created.

59 cities reported that 75,000 new jobs had already been created on redeveloped brownfield land.

More than half the cities offer incentives to encourage brownfield redevelopment via tax credits, low-interest loans and infrastructure upgrades.

But the report found that although many states are working with the cities on brownfield issues, few are working together to reap the benefits in restricting sprawl.

"Brownfields provide a wonderful tool for urban and city centre redevelopment," said the other co-chair Lois J, Frankel.

"In today's economy the search for additional resources is imperative and through brownfield redevelopment additional jobs and a growth in the tax base are two benefits cities can strive for. Communities are reborn and the environment is restored, in many cases, preserving precious green and open space."

Comments: 0
Author: 
BB Staff
Source: 
Brownfield Briefing