Brownfields & Redevelopment
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 prevents suburban sprawl and the decay of the inner city. Currently, many “in-fill” development opportunities in urban areas are considered Brownfield projects and require, at a minimum, environmental assessment prior to reuse.
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 helped Brownfield stakeholders, including property owners, their advisors, attorneys, and community redevelopment agencies, bring Brownfields back to productive use.
Brownfields Redevelopment Services
Beginning with the Real Estate Due Diligence and Transaction Support process for brownfields and redevelopment, our experts identify potential environmental liabilities that impact property recovery. With extensive experience in the assessment and remediation of thousands of properties, TRG advises 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. TRG’s 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 while restoring asset value.
TRG is respected by the regulatory community and our project managers successfully work with the appropriate regulating agencies to expedite redevelopment. Local regulatory knowledge is vital when assessing options for property use and for forecasting realistic development timelines. More than 100 “No Further Action” letters have been obtained by TRG from regulatory agencies throughout the Western United States and Mexico.