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Environmental assessments could prove useful to developers

On Behalf of | Oct 24, 2018 | Development |

Real estate purchases have numerous moving parts whether they take place here in California or elsewhere. The due diligence portion of the process could take some time, especially when there are questions regarding the amount of work that may be needed to bring a site up to code. Developers often rely on environmental assessments to let them know what they may be in for when purchasing a certain plot of land.

An environmental assessment lets a developer know if the property comes with any environmental issues. The report also explores the potential for long-term adverse effects of those issues even if remediation efforts take place. Moreover, the report will include recommendations regarding mitigation efforts that could resolve the problems with the land.

If an environmental assessment does indicate problems, an audit will more than likely need to be done in order to gain a better understanding of the scope of the problem and the exact nature of it. Because this process could take some time, many California developers wonder whether they even need such reports. It depends on several factors such as te type of project, location and industry.

It is never quite as simple as buying a piece of property, erecting structures and opening for business. There are several steps to go through before the doors open, and obtaining an environmental assessment could be one of them. For this and other reasons, many developers here and elsewhere look to experienced commercial real estate attorneys for help. With so many different potential issues, ensuring that a particular purchase and project remain in compliance with all applicable laws could seem overwhelming.