Turning Failed Commercial Properties Into Parks
Turning foreclosed commercial properties into park networks could put
people to work, raise real estate values and promote wise redevelopment.
By Jonathan Lerner
Miller-McCune
December 28, 2010
In the language of urbanism, "greenfields" usually means rural land at
the metropolitan edge, where suburbia metastasizes. "Brownfields" are
former industrial sites that could be redeveloped once they are cleaned
of pollution. "Greyfields" - picture vast empty parking lots - refer to
moribund shopping centers. Recently another such locution was coined:
"redfields," as in red ink, for underperforming, underwater and
foreclosed commercial real estate.
Redfields describe a financial condition, not a development type. So
brownfields and greyfields are often redfields, as are other distressed,
outmoded or undesirable built places: failed office and apartment
complexes, vacant retail strips and big-box stores, newly platted
subdivisions that died aborning in the crash.
Now comes "Redfields to Greenfields," a promising initiative aimed at
reducing the huge supply of stricken commercial properties while
simultaneously revitalizing the areas around them.
...
For the entire article, see
http://www.miller-mccune.com/business-economics/turning-failed-commercial-properties-into-parks-26410/
--
Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org
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