Everybody told me to avoid the old Packard plant property but I closed on it anyway

Three years ago my uncle warned me the contamination would bankrupt me. I just signed a lease with a solar farm company that wanted the brownfield credits.

3 comments

3 Comments

elliot_barnes2mo ago

Oh wow that's incredible! I bought an old gas station lot that everyone said was a money pit and ended up leasing it to a EV charging company for the tax incentives. People see contaminated dirt and run the other way but they don't realize the credits and grants can actually make it work. Sometimes the best deals are the ones nobody else wants to touch.

jamesm382mo ago

Wait, are you guys saying the EV companies are actually paying you for the lease or are they just covering the cleanup costs? I keep seeing these deals pop up near me but nobody can explain the math. Like my buddy got a former chemical plant lot basically for free, spent two years jumping through hoops with the EPA, and now apparently the credits are worth more than the land itself. It feels like one of those things where the real money is in knowing the right accountant and having a stomach for forms.

viola_ward2mo ago

My uncle said the same thing about a dry cleaning site I bought - THREE Phase 1 assessments later and it's now a parking lot for a data center. People act like contaminated land is a death sentence but those brownfield credits are basically free money if you can handle the paperwork nightmare. I spent more on lawyers than the actual cleanup but the tax breaks made it worth every cent. Crazy how "avoid that toxic dump" really means "congrats on your new passive income stream".