At a first glance, redeveloping a brownfield can seem like a huge undertaking. They can be eyesores, expensive to cleanup, and the leadership capacity to take on a brownfield project may not be in place. On top of that, neglecting a brownfield site has negative effects on the surrounding environment and local economy.
Instead of focusing on the negatives, however, we encourage you to see the glass half full when it comes to brownfields. A brownfield property offers enormous opportunity for the community, and many places are missing out on these hidden gems.
- Smart Growth
The pressure to grow for our Colorado Communities has never been greater. Knowing and controlling how to grow can be hard and complicated, but crucial for economic success. Often times, the best places to grow are in the most unlikely places. Brownfield sites are usually overlooked when it comes to opportunity for smart growth, but these sites can take shape in key areas of the community such as on Main Street or at the city entrance, making them even more important to consider. All it takes is cleanup funding and the right vision to get it off the ground.
- Funding Opportunities
While brownfield cleanup and redevelopment can be costly, there are tons of financial resources available for these projects. Tax credits, grants, and a revolving loan fund are specifically designed for brownfield cleanup in Colorado. The benefit of utilizing these funds is not only a safe and clean property, but often times, these funds are used as additional leverage to receive outside funding from state and federal entities to support great projects and places.
- Vision to Implementation
Successful projects all start with a vision, and brownfields are not any different. These visions are designed by the community, stakeholders, and property owners to fulfill local needs and opportunities. This aspect allows for the alignment of community goals and the creation of projects that are community anchors. For example, communities have provided affordable housing, job centers, event centers, parks, and much more with brownfield redevelopment. These projects are possible by creating unique public private partnerships to move from vision to implementation.
Contact us to learn more about the benefits and opportunities of brownfield sites.