Real Estate Development & Development of Impacted Sites
The prospect of returning an environmentally impacted property to productive use is both enticing and daunting to many property owners. The investment of time and money is considerable. The economic risk associated with property development is greater than simply maintaining or remediating the property to comply with regulations. A number of variables in addition to regulatory requirements are necessary, including the site conditions, surrounding impacts and community acceptance. Yet under the right conditions, converting an impacted site with financial liability into an asset is both achievable and in the best interest of the owner, the local government and the community.
C2 REM’s strategy for developing impacted pr...
C2 REM’s strategy for developing impacted properties is designed to reduce the project risks using a step-by-step approach that limits the owner’s financial commitment until such time the site conditions, development options, regulatory requirements and public perception can be quantified and evaluated objectively.
C2 REM Development Approach:
- Assessing the site conditions to quantify the environmental impacts.
- Evaluating the regulatory requirements as they apply to site conditions.
- Preparing concept-level development alternatives.
- Developing remedial options that support potential development alternatives.
- Evaluating development risks.
- Assessing options vs. risk reductions (via a risk vs. cost tolerance evaluation, see below).
- Assessing public and agency perceptions.
- Preparing project Pro Formats (including environmental diminution assessment).
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