Identifying and actively marketing brownfields is a trend that is growing in popularity. At Ady Advantage, we’re increasingly integrating brownfield redevelopment efforts into the strategic plans that we develop for our economic development clients. This allows us to map all of the property assets in the region, which in turn can result in more interest in the region from a broader set of prospective investors.
On the surface, attracting redevelopment and re-use for brownfield sites may seem very similar to the process of attracting development for greenfield sites. In reality, marketing brownfield sites requires different strategies and tactics in order to be effective. A brownfield site is not just another industrial lot. There are likely higher environmental risks. There could be previous uses that limit future uses. Infrastructure and/or building issues may need to be addressed. You need cleanup and mitigation plans as opposed to a shovel-ready site. And finally, but perhaps most importantly, your target audience for brownfields are redevelopers, for the most part, not the site selectors and corporate clients who are looking for greenfield sites.
Companies and utilities are constantly reviewing their real estate portfolios, and older, more obsolete facilities often end up on the closure list. This can be detrimental for a community and for the employees who worked at the facility. At Ady Advantage, we leverage our research and reverse site selection expertise to identify the best and highest possible reuse when these large employers leave a region. We then create actionable marketing plans that may include dedicated websites or microsites, lead generation, listing sheets, direct marketing campaigns, and more to attract new investment to the facility. Often these efforts are part of a broader regional growth strategy.
At Ady Advantage, we have been working with a number of clients on marketing strategies and campaigns for brownfield and industrial sites, including developing specific reuse and redevelopment plans and feasibility studies for unique industrial properties. If you’re interested in exploring the redevelopment possibilities for brownfield sites in your region, contact Janet Ady at 608-663-9218 to discuss how we may be able to help you.