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ARTICLE · 27 SEPTEMBER 2024

Realizing The Potential Of Brownfields

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Louise Dyble's article "Incentives Hope to Spur Reuse of Underutilized and Abandoned Properties" was recently featured in the in the Fall 2024 issue of NAIOP Commercial Real Estate Development magazine.

United StatesReal Estate and Construction
Louise Dyble
Louise Dyble
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Incentives hope to spur reuse of underutilized and abandoned properties.

The term "brownfield" emerged in the mid-20th century when urban decentralization and deindustrialization left behind large numbers of underused or abandoned properties. These properties included former industrial sites and areas near potential sources of contamination. Even if a brownfield property did not need remediation because there was little or no actual contamination, the associated risk deterred investment.

When Congress passed the 1980 Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) and created the Superfund program to clean up severely contaminated sites, it unintentionally exacerbated underinvestment in brownfields. CERCLA established strict, retroactive liability for all owners or operators of contaminated property, regardless of when or how contamination had occurred. This heightened the risk and cost of acquiring an interest in potentially

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