Donald Nanney, a member of Cozen O'Connor's Real Estate Practice Group, discusses environmental risks in today's market in Real Estate Issues. "On the heels of environmental law and regulation came fear. Fear of environmental liability led to fallow properties called "brownfields." The redevelopment of such properties is complicated by the real or perceived presence of hazardous substances, pollutants, or contaminants and the risk of unlimited liability under stringent regulatory standards. These properties tend to be in urban areas where the opportunity and the need to recycle them to productive use is greatest," Donald explains.
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