Real Estate Development Shoreline Property Site Closure

A real estate development client owned a shoreline property where a Phase I site assessment by another consultant led to an extensive site assessment of groundwater, soil, and sedimentt leading to a risk-based study. The consultant performed subsequent studies, which focused on impacts to soil, groundwater, and bay mud and eventually led to a risk-based study. Their preliminary conclusions suggested that the cleanup of hazardous substances on the site might cost $10 million. Cameron-Cole reevaluated the site data and risk assessment to provide a more detailed risk assessment that demonstrated no remedial action was necessary if the property remained an industrial site. We prepared a Remedial Action Plan for soil and shore protection only, with an estimated cost of $800,000. Our plan was submitted to the Regional Water Quality Control Board and approved, saving the client an estimated $13.5 million and netting them a substantial profit on the sale of the property.