What does the term brownfield refer to?

The term "brownfield" specifically refers to real property that is complicated by the presence or potential presence of hazardous substances, pollutants, or contaminants. These sites often require environmental assessment and remediation before they can be redeveloped or repurposed. The designation of a property as a brownfield can impact its value, development potential, and the types of financing that might be available for redevelopment efforts.

The other options do not accurately capture the specific definition of a brownfield. A plot of land with zoning issues might present development challenges, but it does not inherently involve hazardous substances. A site with historical significance may be of cultural or heritage value but does not relate to environmental contamination. Similarly, a newly developed eco-friendly space indicates a positive environmental initiative rather than a site complicated by hazards. Thus, the correct identification of a brownfield as a property with hazardous substances underscores the crucial aspects of environmental law and real estate development.