Quote:
Originally Posted by biggus diggus
I can answer this one, remediation can be astronomically expensive! If I have to eat 10% of my margin just to keep something because I think it's cool, I'm not doing it... bye bye building. Not sure whether Mr. Motley agrees or not.
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I have a two-fold answer.
1. To my knowledge, environmental concerns on this property were blown way out of proportion by the spread of rumors that originated when the city backed out of the AZ Opera purchase. The Singers told the city the property was clean, then tried to informally remediate a small underground waste oil tank in the dead of night. City policy is not to deal with people like that, so they withdrew. [Start rumor machine here.]
2. Even if there are environmental issues, they would have to be remediated exactly the same way if you were remodeling or you were demolishing. It is a net non-issue with regard to preservation.