Brownfield cleanup costs can make or break a deal in a real estate transaction or redevelopment project. Costs can range from $50,000 to $5,000,000 or more. As the scale of the project grows, the need to understand and accurately estimate costs grows. The lack of a reliable and accurate cost estimate can bog-down a project; especially when projects involve multiple landowners, federal and state regulatory agencies, attorneys, bankers, and grantors. Each of these entities need to answer the question: is it economically feasible to redevelop a contaminated site?
The challenge is to capture all possible contingencies, whether the project is as small as an underground storage tank removal or as large as the cleanup of a Superfund site. Capturing and identifying contingencies have traditionally been a problem with cost estimating. Landmark understands the importance of cost estimating and we work closely with clients to understand how site specific environmental issues relate to redevelopment plans and identify uncertainties early in the planning process.
With a client-focused, “land use-driven” approach, we develop response action plans that incorporate building design, property layout, cut and fill and even landscape architecture to better predict remediation costs. Our unmatched experience with environmental issues related to brownfield redevelopment help minimize financial risk and gain the confidence of all parties involved.