Actors’ Preferences in the Redevelopment of Brownfield: Latent Class Model

AbstractNumerous authors have argued that the redevelopment of a brownfield can provide a range of benefits. For example, the physical improvements of a brownfield result in better site characteristics such as lower contamination levels, better site accessibility, and eventually improve the image of a neighborhood. On the other hand, applying proper legal policies leads to a less complicated ownership structure and might result in a faster approval process. These physical improvements and legal policy endeavors often lead to financial benefits such as value capturing or improved real estate value. However, the necessity to deal simultaneously with physical improvements, legal policies, finances, and the tradeoffs that need to be considered therein may explain why brownfield problems are not easily resolved. In addition, many actors are involved in the redevelopment process. Actors such as the municipality, developer, and landowner might have different preferences regarding the essential physical, legal, a...