TABLE OF CONTENTS Gary Ballesteros of Rockwell International openly discusses the owners viewpoints concerning remediation of brownfields properties. In the introduction to this book, we listed four categories of brownfields. The corporate discussion in this chapter is of the fourth category (currently operating sites in danger of becoming brownfields due to historical contamination), which potentially represents the largest number of brownfields. The issues discussed must be addressed adequately, or corporate brownfields redevelopment will be delayed. It is important to understand the sellers point of view of brownfields regeneration.
Gary W. Ballesteros
Like any transaction, a brownfield redevelopment project requires two parties: a willing buyer and a willing seller. What has often been ignored in discussions about brownfields redevelopment (and what will be discussed in this chapter) is the viewpoint of an industrial seller. In particular, this chapter will examine the impediments that would stop an industrial owner of a brownfield property from redeveloping that property into a new useful asset.
There is no question that brownfields redevelopment is a good thing. Obviously, converting an underutilized industrial parcel into a community asset is both economically and socially beneficial. But if it is such a good thing, why aren t industrial companies selling their land at a record pace all around the country?
While it is true that there is a growing trend toward developing more and more brownfields properties, few of the projects completed to date have involved properties owned by ongoing industrial companies. Instead, many brownfields redevelopment...
