Brownfields/Smart Growth Research

BSGRG Networks | BSGRG Publications/Papers

CEPM's Brownfields/Smart Growth Research has been involved in analysis of factors shaping the location of new development and real estate investment in areas with contaminated land and water problems since 1993. Brownfields have been identified across the United States, but pose exceptional problems for older cities and economically depressed areas that have difficulty attracting private investment. Smarter growth has arisen as a political issue in locations as diverse as major metropolitan centers concerned with central city revitalization and rural areas trying to preserve unique landscape or other assets while accommodating the expansion of local population and/or economic activity. CEPM staff and associated researchers have specialized in the economics and finance of brownfields response, working with private decision–makers, local and state public officials and federal agencies.

Our Brownfields/Smart Growth Research has analyzed and supported brownfield investment decisions and risk–based decision–making of private sector parties such as:

• Bankers and other financiers, including venture capitalists and pension funds
• Appraisers
• Real estate development professionals
• Community development institutions

We have analyzed and assisted in the design of public policies supporting brownfield regeneration for:

• Local governments
• Local and regional non–profit development agencies
• State economic development departments
• State environmental agencies

Linking the two sectors, and providing exceptional support for smarter decisions on the possible reuse of previously developed sites is the growing new arena of privately provided real estate investment risk management tools. The Center has a national reputation in environmental insurance and its use in redevelopment, including:

• Cost cap coverage and management of cleanup cost uncertainties
• Selection of appropriate pollution liability coverage for prospective risks
• Roles for portfolio and pool coverages in promoting reuse of small brownfields
• Public sector insurance purchasing and management problems and prospects

Current smart growth analytical efforts include examination of:

• Types of “sprawl” and which public policies address which expansion pressures
• Perceived “quality of life” factors and how they shape real estate market demands
• Public and private returns from planning for regeneration of areas, not specific sites
• Issues in the use of old brownfields for provision of new low income housing

CEPM staff and associates working on Brownfields/Smart Growth include:

Peter B. Meyer, PhD, Professor of Urban Policy and Economics, Center Director

Lauren Heberle, PhD, Asst. Professor School of Urban and Public Affairs, Center Assoc. Director

Sarah Coffin, MUP, PhD (Planning), a brownfields and economic development specialist

Kristen R. Yount, PhD, Assoc. Professor of Sociology and Director of Sustainable Futures Program, Northern Kentucky University, and environmental insurance and brownfields specialist