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. 🙏🏼
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. 🙏🏼
Sheesh, that’s nutty. What are the odds you’d find so many, and so full?! I’m glad you didn’t have to scrap the plan — I’m stoked to see those properties rehabbed.
Thanks for sharing this. If I read this right, does that mean that the environmental remediation of this former gas station came at about $100k?
Not cheap obviously, but I remember researching that topic a while ago, and from what I read, several $hundred thousand in remediation cost seemed more typical.
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.
15k gal! Whew. What was the Tip Top building in its past life?
Bakery! The old four-million btu/hr boiler is still in the basement, which used about 20 gal/hr when firing.
😳 cha-ching!
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. 🙏🏼
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. 🙏🏼
Oooof! Thanks for sharing, as always. Remediation always run more than I think, but I never would have budgeted a $100k for something like that.
Three cheers for TRORC.
Seriously. We’re lucky to have them.
Sheesh, that’s nutty. What are the odds you’d find so many, and so full?! I’m glad you didn’t have to scrap the plan — I’m stoked to see those properties rehabbed.
Crazy, right? The dollars add up quickly when you’re talking environmental cleanup.
Thanks for sharing this. If I read this right, does that mean that the environmental remediation of this former gas station came at about $100k?
Not cheap obviously, but I remember researching that topic a while ago, and from what I read, several $hundred thousand in remediation cost seemed more typical.
These are just small multifamily properties (residential), not a former gas station!
You may be thinking of a different project we developed.