Phase 1 Environmental Site Assessment: It is comprised of a historical review, site reconnaissance, and interviews with relevant personnel before reporting. It is an evaluation of historical and current property use in order to find any potential contaminations that have or can occur. Phase 2 Environmental Site Assessment: If Phase I environmental assessment has a […]
A Phase 1 Environmental Site Assessment is recommended anytime a commercial or industrial property needs to be developed, bought, or sold. This assessment is mainly conducted to examine the potential contaminations and its effects on the subject property. If the contamination exists, the process of reduction and elimination is carried out by gathering any and […]
A Phase 1 Site Assessment has four significant steps: • Records review Record Review is the first step to any phase 1 environmental. It requires an extensive background search of the property to assess any past activities that could lead to contaminations. The first step is to determine what the subject site and its neighboring […]
Phase 1 site assessment is a mandatory assessment that is carried out when buying or selling any property. It helps determine whether the property is in a good state and whether it will sustain over time. To conduct Phase 1 Environmental, you will first require a competent assessor from any environmental consulting company. It is […]
The main reason consultants are hired for an ESA is to determine the safety and longevity of a property. It is important to carry out environmental due diligence when buying, selling, or even refinancing a property. Doing so ensures that all legitimate environmental and fiscal risks are mitigated. ESA’s are especially mandatory when purchasing a […]
The purpose of the Phase I Environmental Assessment is to identify actual or potential site contamination. When selecting a new project, either a residential, commercial, or large-scale land development, environmental due diligence, specifically a phase i environmental assessment, is a critical step in choosing the right property. Most commercial real estate transactions require a level […]
When selecting a new project, either a residential, commercial, or large-scale land development, environmental due diligence, specifically a Phase I Site Assessment, is a critical step in choosing the right property. Developers, investors, and users may focus on the location, the structural integrity of the building, or the value of the commercial property, but performing the appropriate environmental […]