State University Campus
Many Universities have historical contamination from old landfills, gas stations and even industrial operations.
Problem
Over the years, Restorical has had the pleasure of working for many University clients. University real estate portfolios are very diversified. For starters, there may be several campuses each with their own histories. Main campuses could be in the heart of the city and built on land that was once home to trade and industry. As campuses grow and space is at a premium, the in-fill properties are prioritized for redevelopment.
These in-fill sites have past histories from Bulk fuel facilities, Landfills, Railroad yards and maritime training centers that polluted the soil, groundwater and even sediments of waterways.
Solution
The history of each site within the portfolio is carefully researched. Understanding the life of the property from virgin dirt to present day provides the best possible avenue for insurance funding.
For sites located on the Universities main campus, it is possible that the historical policies of the school itself may be leveraged for funding the investigation and cleanup of pollution.
For satellite campus’ Restorical identified former business owners and property owners policies and successfully made these assets available to our clients.
Our efforts have lead to tens of millions of dollars in savings for our University clients.
Impact
Having readily available funding for the remediation of pollution has allowed our University clients to pursue the expansion and redevelopment of their campuses. Waterfront features and overlooked contaminated sites are now being redeveloped with these financial asset available for the remediation of historical pollution.
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