By: Barry F. Hersh, New York University Schack Institute of Real Estate
Waterfront brownfield regeneration is extraordinarily complex; incorporating ecology, land use, community benefits, hydrology, real estate economics, design and a host of associated disciplines. There's also an array of regulatory and funding agencies, at federal, state and local levels. The mixed-use redevelopment of formerly contaminated waterfronts has become a key but also difficult part of urban revitalization and a significant real estate opportunity.
This research project looks at the complexity of waterfront brownfields from a real estate practice perspective and suggests approaches to dealing with the organization and sequencing of design, remediation, land reuse planning, shoreline improvements, markets and feasibility, as well as the host of regulatory reviews involved.