JobsOhio Helps Drive Down the Cost of Brownfield Redevelopment
Nate Green.
The Montrose Group.
Infill and urban development is becoming increasingly popular as the Millennial generation choses to live and work in walkable, new urbanist communities. Despite that trend, a greenfield site is much easier to sell and less costly to develop than a brownfield-infill site.
A greenfield site with all the infrastructure in place may sell for $45,000 an acre while a competing brownfield site may need to sell for twice that much to cover the considerable costs of environmental assessment and remediation and demolition. In many instances a public-sector partner is needed to help drive down the costs of the brownfield site to make it compatible cost-wise with a greenfield site.
Click HERE to learn more about JobsOhio programs that help drive down the cost of brownfield redevelopment.
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