For Sale: 2,000 Gallons Of Vintage Fuel Oil
Cleaning up the past before we can build something new.
Hey — Jonah here.
Welcome back to Brick + Mortar, where I share stories on developing real estate at Village Ventures in rural Vermont.
We’re currently developing a 19-unit scattered-site affordable housing project.
Two parcels, five buildings…
And—plot twist—three massive underground oil tanks.
We found two 2,000 gallon and one 5,000 gallon (!!!) tanks during our environmental assessment late last year. But I’m happy to report they’ve now been dealt with—two pulled, one retired in place.
Can we just acknowledge the absurdity of these tanks for a second?
Like WTF did someone ever need that much oil for? And one was chalk full. Someone actually went through the trouble of installing, filling, and footing the bill for a small oil reservoir—and then just dipped. A true reverse eat-and-run maneuver. Well played, bud.
I can almost understand hoarding old tools or leftover building materials. Maybe even furniture.
But hoarding oil? Reminds me of when the Gang Solves The Gas Crisis.
So if anyone’s in the market for some well-aged oil, have I got a deal for you.
Vintage. Untapped. Stored underground for maximum terroir.
Anyway—whether we wanted them or not, the tanks had to go. Not just for safety, but because the funding sources we’re applying for required them to be decommissioned. Plus, eligibility hinged on additional environmental testing for lead, mold, and PCBs in and around the buildings.
And what does that run?
Development ain’t cheap!
Most small developers I know don’t have that kind of cash lying around. Myself included.
This price tag could’ve easily iced the entire project—if not for help from our regional planning commission, Two Rivers-Ottauquechee (TRORC).
They stepped in with state and federal brownfield funding and covered the full cost of testing and tank removal. I can’t overstate how big of a deal that is.
We’re lucky to have a partner like TRORC that sees the value in projects like this—and actually has the resources to back it up. Without them, we’d still be stuck with the world’s worst underground wine cellar and no way to move forward.
Now… onwards!
Some photos from the big dig.
Until next time.
— Jonah 🧱
P.S. Want to connect? Find me on LinkedIn.
When I was developing the Tip Top in White River Junction I found two 15,000 gallon oil tanks, one of which was under the building and partially full. The one under the building had to be filled with concrete slurry, like yours. The cost to remediate was covered by brownfield cleanup funding, thankfully.
Oooof! Thanks for sharing. Remediation always run more than I think, but I never would have budgeted a $100k for something like that. Appreciate the insight, as always. 🙏🏼