I was reading an article concerning a metal recycling company moving out of the pat of the TRV project. They mentioned a term I was not familiar with; Brownfield Land. Apparently this refers to previously used commercial or industrial property which may be contaminated. Properties like this can potentially be used after environmental remediation has taken place.
Apparently it became relatively common for investors to purchase such properties after the dotcom bust. Nationwide there are several instances of such lands being successfully converted into housing developments and shopping centers. It seems like a relatively good investment for long term holders.
Come to think of it, this issue has put several local development projects on hold. I won’t mention them here, for fear of angering stagnant landowners.
