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Brownfield redevelopment could boost economy

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Thursday, November 08, 2012

More brownfield redevelopment like in Portland's South Waterfront could boost the economy and provide needed housing, a Metro report says.

The Regional Brownfield Scoping Project estimates there may be as many as 2,300 properties in the region that are potentially contaminated and either vacant or underutilized. This represents about 7 percent of all commercial, mixed use and industrial zoned lands within the urban growth boundary administered by Metro.

According to the report, under land-use regulations, redevelopment of the entire inventory could yield up to 71 million square feet of new development, including 138,000 new dwelling units and work space for about 69,000 more jobs, generating nearly $1.4 billion in additional wages and as much as $427 million in new property tax revenue.

Read more at The Portland Tribune.

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