A brownfield site is one where known environmental issues are posing an obstruction over and above customarily unattractive economics in connection with the cleanup and/or redevelopment of the property. However, recent legislative changes in Ontario in particular are expected to relieve some of the current disincentives to the redevelopment of brownfield sites, and JFM is well positioned to serve this emerging market.
JFM combines its expertise and experience in the environmental services and remediation field with its knowledge of the Industrial Commercial Institutional (ICI) real estate market to seek out and evaluate brownfield redevelopment opportunities. Upon internal review of these opportunities, JFM may offer to either purchase the site, or enter into an appropriate form of partnership with the property owner in proceeding with a remediation program to targeted standards such that redevelopment is then able to proceed.
If the client is unable or does not wish to sell or parcel out any of their equity interest in the brownfield site, JFM’s assessment and remediation services remain available on a conventional basis. These services include assisting the client in the environmental evaluation of the property, the selection of the remediation method, and the ultimate cleanup of the site.