As population growth continues around urban centers, old former manufacturing or heavy industry sites become more valuable. This has created a surge in the evaluation, assessment, and cleanup of properties for reuse. These properties are called “brownfields” and the individual, agencies, buyers, sellers, financiers, consultants, environmental justice groups, and other interested parties are called Brownfield stakeholders.
Brownfields are defined as real properties whose reuse or redevelopment may be complicated by the presence or potential presence of hazardous substances. Cleaning up and reinvesting in these Brownfields takes pressures off of undeveloped land and protects the environment. Currently many in-fill development opportunities in urban areas are considered Brownfield projects and require, at a minimum, environmental assessment prior to reuse.
Brownfield Environmental Services
Engineering may be required if assessment activities identify areas of environmental concern, remediation activities, risk assessment, or in-situ management. Since 1989, The Reynolds Group has been helping Brownfield stakeholders, including property owners, their advisors, attorneys, and community redevelopment agencies, bring Brownfields back to productive use.
Beginning with the Due Diligence process, TRG’s staff is expert at identifying potential environmental liabilities that impact property redevelopment. With extensive experience in the assessment and remediation of thousands of properties, we advise clients on the cost, schedule, and regulatory implications, as well as potential funding sources, for environmentally impaired real estate. Working hand-in-hand with legal counsel, as appropriate, our firm advances projects independently or in conjunction with the formal regulatory process. Our background and knowledge in the areas of development and business principles allow us to craft solutions that create win-win situations for buyers, sellers, financiers, and developers to restore asset value.
TRG’s staff is respected by the regulatory community and our project managers successfully work with the appropriate agencies to expedite redevelopment. These relationships are vital when assessing options for property use and for forecasting realistic development time lines.