News
A Good Deal in a Recovering Market
June 14, 2011
| National Brownfields Association's Robert Colangelo says incentives available from federal, state, and local government for redeveloping brownfield sites give them a competitive advantage over traditional real estate development projects. With many choosing to go green, brownfield redevelopment is also sustainable development because it recycles land and infrastructure. | |||
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| Robert started developing brownfields as an entrepreneur in the 1990s. With his most famous site the 26-acre former Chicago Bridge and Iron Facility on Chicago's Southside. He also provided support to the City on the West Pullman project where he led a team of development experts that gave the City recommendations for cleaning up and redeveloping the 200-acre industrial site. Exelon recently built the largest urban solar plant in the nation there. NBA can help potential developers get tax incentives, TIF districts, or low interest rates for a brownfield site, but a key to brownfield development is finding a good piece of real estate. (Robert says only about 20% of these sites are “good real estate.”) He hopes developers and corporations will keep an eye on creating new green communities and buildings. You can hear Robert's podcasts weekly on www.greensenseshow.com, or you can come see him moderate our Chicago Brownfields Summit at the Jenner and Block conference space at 353 N Clark on June 23. Sign up here! | |||
