by Stephen Jordan

At an event on Capitol Hill this morning, the Business Civic Leadership Center (BCLC), joined a national partnership of stakeholders to voice support for Redfields to Greenfields, a nationwide initiative funded by Seminole Capital, to improve the local business climate by turning distressed and underutilized commercial real estate (redfields) into new green spaces.

The Redfields to Greenfields initiative is an amazing project that directly addresses the dual concerns regarding the stability of the housing market and urban environments.  The truth is, we need more of these kinds of creative ideas from private-sector players.  It is the only way that these kinds of public challenges are going to be overcome and how we will improve our economic and environmental conditions.

This plan, with the support of Wall Street investors, civil engineers, and urban park advocates, has been created to convert these redfields into parkland and sustainably developed properties.  The best part about revitalizing distressed properties is that it will create jobs immediately, improve the business environment, and provide a fresh start for redeveloped areas to spur economic growth.  Beyond the economics, the lush new parks and green spaces will make America’s cities greener and more vibrant places to live for generations to come.

Redfields to Greenfields currently focuses on 11 U.S. cities, many of them with significant abandoned or financially distressed commercial projects that weigh down local economies and hinder regional bank lending due to high holdings of toxic assets.  The cities include Atlanta, Cleveland, Denver, Detroit, Hilton Head-Savannah, Houston, Los Angeles, Miami-Dade County, Philadelphia, Phoenix, and Wilmington, Delaware.

Under the plan, federal and private money would support the projects.  Already, companies and foundations from across the nation have joined the initiative.

For more information on the initiative, come check out our website at http://bclc.uschamber.com/