Remediation pit for contaminated soil that pertains to learning what a phase 3 environmental site assessment is

What is a Phase 3 Environmental Site Assessment for Remediation Purposes?

Are you a commercial real estate broker concerned about the environmental condition of a commercial real estate property? It’s time to dig into what’s involved in the final stage of addressing issues with the property.

If you have already completed Phase 1 and Phase 2 Environmental Site Assessments, but problems persist, you may wonder, “What is a Phase 3 Environmental Site Assessment?”

In summary, Phase 3 ESAs are also known as:

  • Brownfield assessments
  • Remedial action plans
  • Phase 3 environmental site evaluations

All of these terms refer to the same remediation process. However, interchangeable terminology is often used at this stage of the assessment process. RSB Environmental wants to take the guesswork out of due diligence.

In this article, we’ll shed some light on a Phase 3 ESA for remediation purposes so that you have greater confidence in supporting your clients during this critical assessment.

What is a Phase 3 Environmental Site Assessment?

A Phase 3 ESA is a remediation process intended to address soil and groundwater contamination. A Phase 3 ESA can also be used as an assessment designed to reinvigorate brownfields, which is a property that’s seen decreased usability due to contamination.

Brownfields are typically abandoned, but not always. In some instances, brownfields may only be suitable for specific commercial operations. If your client wants to use it for other purposes, a Phase 3 ESA will be necessary. Once the contamination has been removed, the site can be re-zoned.

When is a Phase 3 ESA Required?

A Phase 3 ESA follows a Phase 1 and Phase 2 ESA. During a Phase 3 ESA, our team will work to remove contamination from a subject site, where we use information gathered during the first two phases of the assessment to guide our efforts.

– A Phase 1 ESA is a preliminary site assessment. During a Phase 1 ESA, we’ll check for signs of potential hazards and review the site’s usage history. If a Phase 1 ESA reveals potential hazards, a Phase 2 ESA will be required.

– During a Phase 2 ESA, we’ll collect groundwater and soil samples and test them for contaminants. The mere presence of contaminants doesn’t warrant a Phase 3 ESA, as this assessment will only be necessary if contaminants are present in excessive quantities.

However, a Phase 2 ESA report will outline whether a Phase 3 ESA is needed. It will also include estimated remediation costs, which can help your client determine whether they want to move forward with a deal.

Phase 2 findings can also be used to negotiate a lower purchase price. For example, let’s say that a Phase 2 ESA reveals that a Phase 3 ESA is needed, and remediation costs are estimated at approximately $200,000. In this scenario, your client could attempt to obtain the land for $200,000 below the asking price. Doing so would offset most of the expenses associated with the remediation.

Why Partner with RSB Environmental?

Now that we’ve answered the question, “What is a Phase 3 environmental site assessment?” let’s shift our focus to who performs it. The success of your commercial real estate deal hinges on this all-important process, which is why it’s vital to work with a qualified partner like RSB Environmental to oversee the assessment.

RSB Environmental performs a higher volume of Phase 3 ESAs than any other firm in the nation. As such, we have the expertise and skills to safely and efficiently remediate your client’s site. We also offer expedited turnaround times on Phase 1 and 2 ESAs so you can quickly determine whether remediation is necessary.

The next time you need Phase 1, 2, or 3 ESA services, make RSB Environmental your first and only call.

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