Environmental Remediation Services for new condominium development in Chicago.
AKT Peerless provided environmental consulting services to a private residential developer to facilitate the redevelopment of a former scrap yard located on the south side of Chicago into a gated residential condominium community with a private park, playground, tennis court, and a dog run.
AKT Peerless entered the subject property into the Illinois Environmental Protection Agency’s (EPA) voluntary Site Remediation Program (SRP). The SRP is a voluntary program under which any persons seeking to perform investigative or remedial activities at a property may receive technical assistance and guidance from the Illinois EPA. Upon demonstrating that environmental conditions at a property do not present significant risks to human health or the environment through proper investigative and remedial action (when warranted), the Illinois EPA will issue a “No Further Remediation” (NFR) Letter, which signifies a release from further responsibilities under the Illinois Environmental Protection Act.
AKT Peerless extensively investigated subsurface environmental conditions at the subject property and characterized the nature and extent of contamination resulting from the former scrap yard operations. To accommodate the future use of the subject property for residential and recreational purposes, AKT Peerless collaborated with the Illinois EPA and the United States EPA to prepare a remedial action plan.
Under the approved remedial action plan, AKT Peerless completed the following:
The remediation and the repurposing of an unutilized property located within a blighted area in the south side of Chicago will serve as a cornerstone for the future revitalization of the area. Upon completion of the remedial efforts and construction, the client was eligible to receive $3,600,000 from the City of Chicago through tax incentive financing.
