What is an example of greenfield development?

Study for the IEDC Real Estate Development and Reuse Exam. Harness the power of flashcards and multiple-choice questions, each enriched with hints and explanations. Get ready for success!

Greenfield development refers to the process of building on undeveloped land, which has not previously been built upon or has had limited activity related to construction. This type of development often occurs in rural areas or on the outskirts of urban regions, where land is freely available and typically does not involve the complexities of existing structures or infrastructure.

Developing industrial parks on undeveloped land exemplifies greenfield development as it entails the construction of new facilities in areas that have not been previously developed. This allows for greater flexibility in design and planning, as developers can shape the environment without having to contend with existing buildings or zoning regulations that may exist in more developed areas.

The other options, such as renovating an old factory or creating a city park within an urban area, do not fit the greenfield definition since they involve the reuse or redevelopment of pre-existing sites, which is considered brownfield development or infill development, respectively. Building a new highway interchange may involve some undeveloped land but typically also connects to existing infrastructure, highlighting its mixed nature rather than being purely greenfield.

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