brownfield development barriers

overview

industrial brownfield sites appear attractive for data center development—existing infrastructure, utility connections, zoned for industrial use. in practice, hidden costs and timeline risks make them uneconomical compared to greenfield alternatives.

environmental assessment costs

phasecost rangetimeline
phase i esa$1,800-$6,5002-4 weeks
phase ii esa$5,000-$100,000+4-8 weeks to months
remediation$50,000-$5,000,000+/siteweeks to years

historical median remediation: $57,000/acre (2008 cued study; current costs higher)

common contaminants

  • soil contamination (varies by prior industrial use)
  • groundwater impacts
  • vapor intrusion
  • building materials (asbestos, lead paint)
  • buried storage tanks
  • sediment and surface water

demolition costs

itemcost range
industrial building demolition$4-$15/sq ft
asbestos removal (interior)$5-$20/sq ft
asbestos removal (exterior)$50-$150/sq ft
lead paint removal$6-$17/sq ft
”dirty demolition” with hazmat2-3x standard costs

example: demolishing a 500,000 sq ft industrial facility with asbestos = $7-15m

common encumbrances

  • mortgages and liens
  • federal/state tax liens (override all other claims)
  • mechanic’s liens
  • judgment liens
  • deed restrictions (run with land)
  • easements (permanent, transfer with property)
  • environmental liens

cercla liability

  • strict, joint and several liability on past/current owners
  • present and prior owners may be held liable for full cleanup costs
  • “bona fide purchaser” defense requires “all appropriate inquiry”

infrastructure retrofit challenges

floor load limitations

  • data centers require 250+ lbs/sq ft floor capacity
  • most industrial buildings lack this capacity
  • post-tensioned/truss systems (1980s-1990s): poor retrofit candidates
  • often requires “tearing down and starting from scratch” (dpr construction)

power infrastructure

  • retrofit cost: 25-40% of new-build cost
  • urban power grids cannot support 500mw+ loads
  • months of utility coordination required
  • “anticipated cost/time advantages can quickly evaporate”

building efficiency

  • buildings >10 years old: typically 60% less efficient than modern facilities
  • cooling equipment accounts for ~30% of data center power

financial model comparison (30mw facility)

metricgreenfieldbrownfielddelta
land acquisition$900k$7.2m+$6.3m (+700%)
demolition$0$7.0m+$7.0m
remediation$0$12.0m+$12.0m
site prep$2.4m$2.88m+$480k
total upfront$6.3m$33.1m+$26.8m (+425%)
unlevered npv$268m$202m-$66m (-25%)
equity irr22.9%20.1%-280 bps

the schedule risk factor

unknown contamination discovered mid-excavation can delay projects indefinitely. lenders and hyperscalers view schedule uncertainty as a primary risk—often more important than absolute cost.

case study: nautilus data technologies (stockton port)

  • world’s first water-cooled data center at brownfield site
  • despite minimal environmental impact: 3.5 years for regulatory approval
  • key quote: “the biggest risk to brownfield redevelopment are all the projects that never get built—that die on the vine”

sources

  • epa brownfields data
  • environmental law institute brownfield guidebook
  • dpr construction retrofit analysis
  • phase i/ii esa industry standards
  • cercla/superfund regulations
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