Commercial Observer: Northeast Flooding Confronts Commercial Real Estate With Severe Challenges
This summer, the United States confronted a deluge of wildfires, floods and heat waves that battered cities nationwide — including locations that least expect it.
In the Northeast, Vermont was inundated by a two-day July storm that pummeled sections of Montpelier, the state’s capital, and rural towns. Simultaneously, catastrophic rains struck other New England states, as well as parts of Pennsylvania and New York, resulting in widespread damages, evacuations and even death.Yahoo Finance
Flood events are particularly detrimental to land that isn’t maintained and lacks natural ecosystems, said Knauer. Rain wipes away topsoil, so any chemicals or sediments that have been applied to farmland are then pushed downstream. “That damages water infrastructure, which causes more flooding and causes overflow of and redirection of rivers and all kinds of serious problems in a watershed,” said Knauer. “Basically, it is like a wall of water hitting these small towns along the way, and we saw this happen in Vermont just recently.”
To address this risk, Knauer recommends solutions that cover the entire ecosystem and watershed. For example, new gardening and landscape techniques can create healthier soils, while alternative farming practices can improve water retention in soil.
Knauer believes his company offers “market-based” solutions, meaning ReSeed encourages more regenerative farming practices that improve water retention, while also helping farmers profit off their changed practices. This incentivization is done through the purchase of carbon credits, which homeowners and business owners can buy from the farmers.
Across the country, market-based solutions will be the fastest way to solve these problems, said Knauer. “That’s a language that many, most all, anyone in the real estate industry should understand.”Read the full article: Yahoo Finance