The US EPA, defines a "Brownfield" as “real property, the expansion, redevelopment, or reuse of which may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminant.” GKE’s principals believe that this is the most favorable economic climate since the advent of environmental regulation in the late 1970s to implement a real estate investment strategy focused Brownfields.
GKE focuses on properties which are eligible for Brownfield Site Rehabilitation Act (BSRA). This act offers tremendous incentives to developers seeking to remediate and develop these stigmatized properties. Placement in the program provides eligibility for corporate income tax credits. In scenarios where the end-use incorporates affordable housing or a quality health care provider, properties within the BSRA are eligible for tax credits which provide up to 90% reimbursement for environmental remediation and horizontal development costs.
In addition to the value added through successful environmental remediation, GKE harnesses the multitude of federal and state sponsored incentives designed to encourage the remediation of environmentally impacted properties. These include but are not limited to the following:
GKE has a primary focus on the acquisition of properties in states within the geographic boundaries of EPA Zone IV. These include: