Brownfields - Redevelopment Opportunities Of Last Resort?

"Portland's hot real estate market has devoured vacant property and inflated prices on the remaining scraps of land.

Now, pressure is on to reclaim former industrial sites where contamination has stalled development.

Several local governments are studying these abandoned properties -- known as brownfields -- and trying to help transform them into productive businesses. If they succeed, today's ghost of a gas station could become condominiums or a neighborhood pub."

"'If you're looking to do something really close in, these are the only sites left,' says Clark Henry, who promotes industrial redevelopment for the city of Portland. 'Some of it is just people coming down to reality. "This is what we have to do. We develop these, or we leave."'"