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Brownfields Developments Becoming More Popular

Posted by: Kevin

9 October 2005 - 7:00am

As developable property becomes ever more scarce, brownfields are beginning to look like a bargain.

"[Across the nation] developers are snapping up abandoned mills, factories, landfills, gas stations and quarries and putting up condos, apartments, town houses and single-family homes.

They're willing to clean up industrial and commercial sites contaminated with toxic and hazardous materials to get their hands on land in prime locations. And consumers increasingly are willing to pay top dollar to live on land once not fit for habitation...

...as suburbs rein in development and more people demand housing near jobs, entertainment and mass transit where land is scarce, turning brownfields into homes makes financial sense."

Full Story: New growth sprouts on USA's brownfields
Source: USA Today, October 9, 2005
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