In brownfield redevelopment, there are potentially many parties that can take on these projects and stand to gain sufficient amounts of money, or in some cases lose a pretty big chunk of cheddar. Which is why, both sides need to be examined before anyone, or any group, commits to such a project.
Potential suitors for such a site include private developers, manufacturing companies, private developers, banks, regulators, and environmental justice organizations. For any potential suitor, these brownfields are perfect sites because of their large acreage and vast openness. Space like this is perfect for building new facilities on, such as; warehouses, shopping malls, houses, or even schools. Brownfields are also often located near communities struggling economically, which means that these suitors will have access to large pulls of labor. Another advantage for these suitors looking in to taking on this process is that these sites are often near railroads and waterways. This allows for products or employees to be easily transported from this site or for any type of establishment depending on people, to be able to gain an extra market of people to come to their establishment. Another positive for suitors looking into redeveloping a brownfield are the new tax laws which allow whomever takes on a brownfield project to use that as a tax right off for that year. Also, for future right-offs in some areas as long as the property is in the process of redevelopment, or development. Another positive of taking on a brownfield redevelopment project is that it is cheaper to use existing infrastructures on the site, rather than starting from scratch. (Unfortunately, this site has no existing infrastructures) Those are the possible advantages of taking on a redevelopment process of a brownfield site. .
Now comes the potential downside, or obstacles, to taking on a redevelopment, or development, process of a brownfield.
