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The costs and risks of Brownfield redevelopment versus Greenfield development: a priveat sector perspective on the effectiveness of community incentive packages. A case study of Waterloo, Ontario

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thesis
posted on 24.05.2021, 11:38 by Brandon Green
Traditionally, there has been minimal interest on behalf of developers, land owners as well as private sector stakeholders to redevelop brownfields (De Sousa, 2000). The fears of real or perceived contamination have made the redevelopment project too expensive and risky to develop profitably. Limited government funding and assistance to the private sector for brownfield redevelopment further complicates brownfield redevelopment. This research investigated Ontario’s Community Improvement Plans with brownfield provisions and how they quantitatively aid investor returns. Hypothetical scenarios for a multifamily residential development were generated for both hypothetical brownfield and greenfield sites where brownfield incentives could be implemented. The pro forma analysis revealed that a full exemption from regional development charges (RDC) had the greatest effect on investor returns (NPV and IRR) followed by the joint TIEG offered in the City of Waterloo. Greenfield development is the most financially feasible option with no added costs or risks from contamination.

History

Language

eng

Degree

Master of Applied Science

Program

Electrical and Computer Engineering

Granting Institution

Ryerson University

LAC Thesis Type

Thesis