Benefits Of Developing Environmentally Difficult Projects
Law360, New York ( December 11, 2015, 12:57 PM EST) -- In the Florida real estate economy in which undeveloped land is increasingly scarce, redevelopment has become the name of the game. Many developers, however, continue to resist opportunities to redevelop "environmentally challenged" sites such as golf courses. Environmentally impacted sites carry with them a unique and complex history, making their conversion and development a trap for those unaware of or unprepared for the myriad of issues that certainly lie ahead. But as available inventory continues to shrink, savvy developers are no longer avoiding these properties but now see them as targets for new development. This article examines various issues associated with the redevelopment of environmentally challenged parcels that can give the knowledgeable developer a significant advantage in assessing the viability of such projects in today's market....
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