Brownfield Remediation - Real Estate
TerraTherm provides rapid, thorough, and predictable remediation of Brownfields property. Our in situ thermal processes can ensure rapid closure, avoid delays, eliminate uncertainty, avoid excavation, and optimize property value. In situ thermal remediation is a reliable, lower risk, and less disruptive way to achieve your remediation goals.
TerraTherm can help you achieve site cleanup, even to the most stringent residential soil and groundwater standards if desired. We remediate chlorinated solvents, manufactured gas plant waste such as coal tar, creosote, petroleum hydrocarbons, coal tar, pesticides and more (see the contaminants, projects, and technologies sections of this web site for more details).
Optimize Property Value
- A typical property value increase might be 1 time (X) if cleaned to industrial standards, 2X if cleaned to commercial standards, but 10X to 100+X if cleaned to residential standards.
Eliminate Balance Sheet Liabilities, Reduce Reporting Requirements
- Ensure that the property becomes an asset on the balance sheet rather than a liability.
- Reduce Sarbanes-Oxley Act reporting requirements. The provisions of this Act require companies to identify and measure environmental liabilities, and to disclose liabilities on the balance sheet.
Shorten Your Cleanup Cycle
We implement rapid cleanup to achieve site closure in a timeframe consistent with real estate transactions. (See Rapid Site Cleanup, Closure and Resale for more information)
Avoid Risks, Noise, Dust, and Neighborhood Disruption by Eliminating Contaminants On-Site.
- Remediate contaminants on-site and in-place (in situ).
- Eliminate the dust, noise, traffic, hauling, and landfill costs (not to mention lingering liabilities) associated with traditional excavation operations.
- Clean, quiet and non-disruptive operations. A neighborhood-friendly way to remediate. Timely, effective on-site remediation is inherently more sustainable and “Greener” than transporting wastes off site.
Eliminate Potential Off-Site Impacts
In some documented cases where capping or excavation was employed, the waste has later affected indoor air quality (through vapor intrusion), leached into groundwater, or moved the liability off site. These issues result in long-term risk for the responsible parties and can result in restrictions on property development. In situ thermal remediation eliminates these risks, results in complete cleanup, and yields the highest possible land use value, often including the option for residential housing.
Brownfields Redevelopment Consortium
Together with a major investment and insurance partner, TerraTherm is prepared to provide support, expertise, services, and funding of suitable brownfields redevelopment projects. When this consortium identifies exciting projects, the group may:
- Participate as an equity partner in selected real estate redevelopment projects;
- Invest capital;
- Provide financing;
- Provide specialty legal expertise in redevelopment projects; and,
- Write insurance products, including Remediation Cost Cap (RCC) and Pollution Liability and Blended Programs.