Serving as the environmental consultant, we represented the owner/developer’s interests at the negotiating table during a multi-million-dollar deal to transact a 500+ acre riverfront parcel. The land had a more than 100-year history of mining and brick and concrete manufacturing. The buyer had performed preliminary environmental investigations and identified millions of dollars in remediation costs. These costs had the potential to significantly discount the property value and our client’s profits.
The Solutions Unearthed
- We reviewed existing environmental reports and preliminary remedial costs to develop a conceptual site model and identify data gaps.
- We directed numerous test-pit excavations and sampled fill for laboratory analysis to quantify the severity and extent of impacts from arsenic.
- Site areas were carefully inspected to delineate zones of asbestos-containing transite debris. These zones were found not to be as extensive as originally assumed.
- Several specialty subcontractors were retained to assist us in developing remedial cost estimates which were significantly lower than the buyer had identified.
- State solid waste and asbestos regulations were reviewed to find alternative low-impact, low-cost solutions to the impacts.
- Owner was able to present our findings which helped them to reach an amicable property value and close the deal.