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The Merits of Brownfield Redevelopment - Case Study Example
We're using old industrial assets - our canals, mills, factories, warehouses - once left to rot - now brought back to life. Providing new workspaces, new communities, and all on Brownfield sites so that we've met our 60 per cent target for all new homes on Brownfield land - eight years early."(Deputy Prime Minister, John Prescott, September 29, 2003)
This shift along with the overall trend away from heavy industry and other types of manufacturing have left many old industrial areas idle, underutilized or completely abandoned.
The General Accounting Office estimates that between 130,000 and 425,000 Brownfield sites exist nationwide. (David.R. Allardice, 1995) (1) In fact, many sites are not in the real estate market adds to the difficulty of quantifying them. As the economic decline of cities gain national interest, the federal, state and local governments are began some initiative process by examining policies with regard to analyze the barriers and incentives for redevelopment of Brownfield sites and developing strategies to address these impediments. But in fact, these implementations turns into an impinge on other factors like social- Those associated with benefiting low income and minority populations, Environmental - Those related to human health and environmental benefits and economical- Those affecting the generation of business, tax revenues, ad jobs positively. (US EPA 2006) Brownfield land gained political significance after
The study shows that the allocation of such idle land for reconstructing stimulates social, economic and environmental factors. ...