In 2019, KCP announced a formal partnership with Michael Goldstein, an environmental attorney with unparalleled experience in Brownfield law and redevelopment, to found Goldstein Kite Environmental (GKE). GKE was created to finance the acquisition, remediation, and redevelopment of Brownfield properties throughout the Southeast United States. The stigmatized asset class presents significant barriers to entry and considerable opportunities to investors.
While practicing environmental law for over 25 years, Mr. Goldstein forged important relationships among local and federal government regulators advocating Brownfield redevelopment. GKE harnesses these relationships to utilize a broad array of local and federally sponsored initiatives designed to incentivize the remediation and redevelopment of infill properties with environmental contamination issues. Through these channels GKE is able to source undervalued investment opportunities while coordinating entitlement strategies to address affordable housing and other underserved needs of the local community.
Prior to investment, GKE conducts thorough due diligence by partnering with industry leading land use attorneys, engineering firms and environmental consultants who are experts in mitigating risk within the niche asset class. Upon acquisition, GKE works with the same professionals to conduct environmental remediation while concurrently entitling its investment properties for their highest and best use. Following successful remediation and entitlement efforts, GKE’s properties become administratively eligible for vertical development and are marketed for sale to a growing list of institutional builders with a desire to develop Brownfield properties.