20C — September 27 - October 10, 2019 — Fall Preview — M id A tlantic

Real Estate Journal

B rownfields

he brownfield reuse/ redevelopment indus- try is eclectic, diver- By Sue Boyle, Brownfield Coalition of the Northeast Become Empowered— Take a Seat at the BCONE Regional Table! T sites are blighted, abandoned and dilapidated, delivering them back to productive use is New Jersey, New York State, and Connecticut. Particu- larly beneficial is the regional consulting, real estate, law, insurance, green-building architects, and so many more

can increase occupant engage- ment, reduce operating costs, and save energy. Its reach goes far beyond devices, sensors, and data, but it cannot be real- ized without a comprehensive understanding of how vast the IoT landscape is and what is required to get us there. Walt Herring and Nora Swanson is Director of Design Technology Innova- tions at AKF Group.  specific energy requirements. Cost Recovery Solutions LLC employs certified, licensed en- gineers who are experts in the tax code, construction, archi- tecture, and cost estimating. Our tax-saving services can help investors regain opportu- nities lost though the TCJA’s shortcomings and navigate through its complexities to maximize its benefits and their return on investment. Robert Rahner, CFA, ASA, CCSP, is the manag- ing director of Cost Recov- ery Solutions LLC.  desire for this profession at Rutgers University in New Jersey, University of Connect- icut and Lafayette College in PA. The scholarships honor long-time brownfield expert and advocate Charlie Bartsch. How vital is BCONE, de- fined by many resources and networking accoutrements? U.S. EPA’s Region 3 Admin- istrator summed it up best declaring that “BCONE is THE expert in Brownfields.” Smart decision-making is empowering, and BCONE offers requisite firepower via tools, resources and profes- sional networking connectiv- ity that’s not only value-add- ing but game-changing—all to foster success and give your business the decided upper hand. Thank you to: Steve Dwyer and Trevan J. Houser for thier contributions to this article. Sue Boyle is executive director of BCONE. 

sified…and r i f e w i t h challenges. Most stake- h o l d e r s , from envi- ronmental to legal, func- tion within

BCONE’s prime objective is purveying education around the benefits of brownfield remediation and sustainable redevelopment, working within the Northeastern US geographic footprint, including Delaware, Penn- sylvania, New Jersey, New York State, and Connecticut.

Sue Boyle

can navigate the intricacies of the construction environment from start to completion. One challenge is considering the suitability of the exist- ing structure for re-use. As owners redevelop big retail box space that can be more than 250,000 s/f into smaller multi-tenant space for 6 to 15 tenants with alternative uses, structural changes such as moving columns, building structural reinforcement or demolishing part or all the buildings would need to be made. Alteration of space, such as with entertainment facilities, can also trigger a change of building classification, which may lead to a range of code- related issues. A common example is conversion of retail into assembly space which can generate a variety of code- their own unique vertical structure. Becoming too insu- lar can stall action and with it, results. External networking with stakeholders across many other professional platforms and from many states—to idea-share and connect with a new vision of execution—can help flip the script. Enter the Brownfield Co- alition of the Northeast (BCONE). Brownfield practi- tioners who currently reside on the outside looking in are encouraged to come inside and take a seat at the regional table. Here’s why the BCONE is a not a luxury, but a necessity: In a densely-populated North- east region where a prepon- derance of former brownfield

related issues. The project team must be knowledgeable in navigating code compliance issues related to the alteration of space for entertainment uses. Expert analysis of the exist- ing space and redevelopment plans at the outset allows owners to understand the cost ramifications of different scenarios and select the best options. To ensure optimal results, both the designer and the contractor should have extensive experience in vacant space redevelopments. At Starwood’s Stony Point retail center in Richmond, VA, Graycor provided extensive cost analysis to assist the client in assessing potential redevelopment opportunities for vacant retail space, using our timely and relevant cost data with similar projects, to help the client arrive at the As you navigate the vaga- ries of redevelopment within the urban infill, exacting stra- tegic and tactical decisions is all the more challenging if operating in a vacuum. BCONE’s prime objective is purveying education around the benefits of brownfield remediation and sustain- able redevelopment, working within the Northeastern US geographic footprint, includ- ing Delaware, Pennsylvania, one mighty challenge. Think about all the moving parts involved in mastering this complex process.

right solution for the property and tenants. Disruption is all occurring across all industries. To stay competitive in the market- place, shopping center owners who embrace the disruption can take advantage of the opportunities to build or re- develop retail centers that will meet consumer demands. It can range from building new innovative experiential retail centers, redeveloping existing properties or simply modernizing to enhance the shopper experience. Teaming with designers and builders who have the right knowledge and experience is essential to Planning the Work and Working the Plan, ensuring a smooth construction process for the owner, tenant and customers. TimHanifin is senior vice president at Graycor.  BCONE’s wide, all-inclu- sive table enables compel- ling, actionable results for every urban redevelopment business. Information on a myriad of tools and resources and many opportunities to network with a wide range of practitioners, including environmental remediation, land use/land development knowledge gained when you are working in metropoli- tan real estate areas that cross state boundaries (NYC, Northern NJ and Southern CT; or Philadelphia, Dela- ware and Southern NJ).

so they can work with the ap- propriate manufacturers and accurately document the pro- tocols, components, and equip- ment required to achieve the desired intelligence at the level of the Construction Specifica- tions Institute (CSI divisions 21, 22, 23, 25, 26, 27 and 28). Smart Buildings represent the next frontier of efficiency, where system connectivity systems, sidewalks, retaining walls, and other land improve- ments. A “look-back” cost segregation study can also be completed up to 15 years after the property is put in service without amending tax returns. Although the 179D and 45L incentives are in a holding pattern for 2018 and 2019, property owners can file them retroactively for any previous qualifying year. However, they must be certified by a qualifying third party to en- sure they satisfy the IRS’ continued from page 7C is guaranteed. Meet green job training programs that supply well-trained, accred- ited and certified entry-level technicians for a variety of brownfield and green energy jobs. Meet the next generation of brownfield professionals before your competition does: BCONE’s scholarship recipi- ents are students showing a

Tax saving opportunities (and heartaches) in the era . . .

continued from page 8C Embracing disruption in the world of . . .

continued from page 12C Following Protocols to Achieve Reliable Smart Buildings . . .

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