Not so long ago, contaminated "brownfields" in Minnesota were viewed as a little more than hopeless blight. But now with consumer demand spiking for close-in locations, developers are increasingly on the hunt for polluted sites that benefit from easy access to the urban core.
With government subsidies available to clean them up and demand still high for inner-ring locations, builders are now converting these "infill" sites into an ever-expanding variety of uses. The trend was clear in the 10 metro Twin Cities finalists for this year's ReScape Awards, which will be handed out by the nonprofit industry group Minnesota Brownfields on Nov. 9.
"When we started the ReScape awards program in 2012, the real estate market was still in the doldrums, and we struggled to find infill projects to recognize," said program executive director Martha Faust. "Here and nationally, however, infill and redevelopment has led the real estate market recovery."
This year's crop, she said, reflects growing diversity of project types on reclaimed sites, signaling a maturing market as commercial developers have found that even with the added costs of remediation, such brownfield sites are financially outperforming suburban "greenfield" development.
"It's an even split this year of housing and mixed use, commercial and industrial, institutional uses and infrastructure and energy," Faust said. "And there's a diversity of project locations, highlighting how brownfields can be used across the metro and state."
Making the list for the first time this year are infill sites used for midsize energy and stormwater systems, built with a goal of achieving sustainability objectives on brownfield sites.
Here's a rundown of this year's 10 metro-area finalists:
700 Central, Minneapolis. Nolan Properties Group and Bader Development purchased an 1897 building and adjacent vacant lot out of foreclosure and tapped funds from the Metropolitan Council and Hennepin County to abate asbestos and clean up contaminated soils for this mixed-use project.