Pre-purchase due diligence and subsurface assessment of individual parcels and large tracts of land to identify and reduce potential risks at residential developments throughout Ohio
Since 2021, AKT Peerless has been the sole provider of due diligence and risk reduction services for a large national homebuilder completing nearly 150 Phase I and II property assessment projects in Ohio. Our client considered purchasing a large tract of land for development as a residential neighborhood. Historical information indicated that the subject property was utilized for agricultural purposes.
K. Hovnanian considered purchasing a large tract of land for development as a residential neighborhood. Historical information indicated that the subject property was utilized for agricultural purposes. K. Hovnanian engaged AKT to provide due diligence services.
AKT Peerless utilized its extensive due diligence and site assessment experience to determine potential areas of concern that could have impacted the subject property. During the Phase I ESA, our team identified a 10-acre orchard feature in historic aerial photos. The potential for lead arsenate to have been used and stored or mixed at the subject property existed.
Based on the results of this Phase I ESA, AKT Peerless recommended that a limited subsurface investigation be performed to evaluate the soils around the orchard and associated outbuildings for the presence of arsenic and lead. The Phase II soil sampling and analysis plan devised by AKT Peerless considered all future users of the residential property, including homeowners, construction workers and utility workers.
Throughout the project, AKT Peerless worked closely with K. Hovnanian Development Services to manage any environmental and financial risks during the various stages of development. Based on the Phase II soil analysis of 58 samples, concentrations of arsenic in seven discrete samples exceeded the Ohio EPA recommended levels for residential use. These discrete soil areas were excavated and removed from the property, reducing future risks associated with the residential development.
