 Redeveloping industrial land: are contamination and remediation schemes affecting the price of industrial real estate properties?Stefania Tonin and Margherita Turvani Journal of Environmental Planning and Management, 2014, vol. 57, issue 7, 1043-1065 Abstract: Redeveloping industrial land may run across obstacles, even within the same land-use designation, because previous industrial activities jeopardised the quality of the site. Contamination of soil and water is an example. Using a hedonic price method, this paper explores the effect of contamination and alternative remediation schemes on the industrial real estate property market. We consider the case of Porto Marghera in the Lagoon of Venice, a large and complex contaminated site listed on the Italian National Priority List (NPL). Our results indicate that the industrial real estate market rewards properties with a complete and certified clean-up scheme, while proximity to properties remediated with the 'permanent safety containment measures' negatively affects the selling price of nearby industrial properties. Characteristics of the properties, such as size, location, accessibility and other relevant economic indicators, do matter in explaining price differentials. Date: 2014 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:jenpmg:v:57:y:2014:i:7:p:1043-1065 Ordering information: This journal article can be ordered from DOI: 10.1080/09640568.2013.782271 Access Statistics for this article Journal of Environmental Planning and Management is currently edited by Dr Neil Powe, Dr Ken Willis and George Bill Page More articles in Journal of Environmental Planning and Management from Taylor & Francis Journals |
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