Hilton Head Island, S.C., is one of several U.S. cities preparing reports for a national program that seeks to spur new development by converting distressed properties into green spaces, South Carolina newspaper The State reported.

Larger cities such as Atlanta, Denver, Detroit and Los Angeles are among those looking into the “red fields to green fields” theory, which supporters said could lead to redevelopment of areas surrounding the sites of troubled commercial real estate.

“Coastal towns throughout the country have been hit hard during this economic crisis,” said Kevin Caravati, program manager from the Georgia Tech Research Institute. “Hilton Head Island provides a snapshot of what is occurring and how infrastructure investments can help revitalize these critical economies.”

On June 16, Hilton Head town planner Jayme Lopko and University of South Carolina Beaufort hospitality professor John Salazar presented plans to redevelop parts of the resort island during a “Red Fields to Green Fields” conference in Washington, D.C.

In addition to helping lenders eject bad loans from their balance sheets and avoid failures, the program is intended to create construction jobs and increase the value of businesses and homes.

The program could lead to a nearly $300 million investment to redevelop dilapidated commercial centers in Hilton Head, which is seeing steady population growth but declining property values.

“Our visitor numbers are on the rebound but declined over the last couple years,” Salazar said. “Unemployment has increased, and spending patterns have declined. That trickles through the economy and results in lost retail and hotel spending.”