ABSTRACT
Environmental Issues are the fourth group of developmental Tasks in the Real Estate Development Matrix. This chapter discusses that the environmental issues are divided into four categories of tasks: Phase I, II, and II environmental site assessments; Certifications; Atmospheric, surface, and subsurface conditions; and Cultural and historical conditions. Environmental site assessments are an important part of risk management for developers, and usually they are addressed in the Acquisition Tasks. The land development of Potomac Yard is a good example of a project that faced subsurface environmental issues. Environmental Issues Tasks in the Real Estate Development Process must be dealt with head-on, rather than avoided or obscured. Developers need to understand all sides of the environmental issues facing the proposed development and strive to find pragmatic solutions or compromises to the various stakeholder positions. Environmental issues will not go away, even after a compromise solution is reached, so developers must be constantly vigilant for alternative solutions and new issues.
