We are independent & ad-supported. We may earn a commission for purchases made through our links.
Advertiser Disclosure
Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.
How We Make Money
We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently of our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.

What is Greyfield Land?

Mary McMahon
By
Updated May 16, 2024
Our promise to you
SmartCapitalMind is dedicated to creating trustworthy, high-quality content that always prioritizes transparency, integrity, and inclusivity above all else. Our ensure that our content creation and review process includes rigorous fact-checking, evidence-based, and continual updates to ensure accuracy and reliability.

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

Editorial Standards

At SmartCapitalMind, we are committed to creating content that you can trust. Our editorial process is designed to ensure that every piece of content we publish is accurate, reliable, and informative.

Our team of experienced writers and editors follows a strict set of guidelines to ensure the highest quality content. We conduct thorough research, fact-check all information, and rely on credible sources to back up our claims. Our content is reviewed by subject-matter experts to ensure accuracy and clarity.

We believe in transparency and maintain editorial independence from our advertisers. Our team does not receive direct compensation from advertisers, allowing us to create unbiased content that prioritizes your interests.

Greyfield land is real estate or land which is underutilized, typically producing far less revenue than it would if properly managed. In contrast with brownfield, land which may be partially contaminated, greyfield usually does not require environmental remediation before it can be redeveloped. Some urban areas actively promote improvement of greyfield land, for a variety of reasons ranging from a desire to up the density level to improving communities.

Greyfield property can take a variety of forms. Often, it includes buildings which are obsolete or poorly maintained, and in many cases, it is the site of a mall or office park which was once thriving. The site may be making less income because it no longer meets the needs of tenants and the community, or because the community's demographics have shifted, leaving the greyfield behind. For example, many greyfields are in once-thriving urban areas which have been impacted by flight to the suburbs.

In many cases, greyfield land is surrounded by asphalt parking lots, which explains the name. While the real estate might have once well well-utilized, over time the land has been allowed to depreciate; the buildings may be poorly maintained, tenant turnover rates may go up, and the infrastructure of the site may be allowed to decay.

Developers often see greyfield land as an opportunity. In the right hands, such land could potentially become very profitable if taken over. Some developers may raze all the buildings and start over, constructing a site which will suit the needs of the community, while others may opt for extensive remodeling efforts. Typically a well-known anchor tenant will be attracted to the site to encourage a steady income. Developing greyfield land is usually cheaper than developing a fresh lot, because the sewer lines, electricity, and other basic infrastructure are already in place, although work may be needed to bring it up to current standards.

There are a number of advantages to developing greyfield land. In disadvantaged communities where community resources have dwindled as wealthier people leave the area, a shopping center or community hub on a greyfield can revitalize the community. For cities concerned about density and a desire to maximize the use of land within city limits, redeveloped greyfield land is often viewed as a positive thing; rather than sprawling out, the city is making use of existing land. Redevelopment also translates into high tax revenues for the land from the city, which can be appealing to cash-strapped cities.

SmartCapitalMind is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
Mary McMahon
By Mary McMahon

Ever since she began contributing to the site several years ago, Mary has embraced the exciting challenge of being a SmartCapitalMind researcher and writer. Mary has a liberal arts degree from Goddard College and spends her free time reading, cooking, and exploring the great outdoors.

Discussion Comments
Mary McMahon
Mary McMahon

Ever since she began contributing to the site several years ago, Mary has embraced the exciting challenge of being a...

Learn more
SmartCapitalMind, in your inbox

Our latest articles, guides, and more, delivered daily.

SmartCapitalMind, in your inbox

Our latest articles, guides, and more, delivered daily.