Environmental compliance for commercial real estate developers

Environmental compliance for commercial real estate developers

On Behalf of | Dec 19, 2023 | Commercial Real Estate |

Real estate developers play a key role in economic development. They create new buildings and improve existing ones.

However, they must follow regulations to prevent harm to the environment. These rules ensure that new buildings are safe for people and nature. To avoid legal issues, compliance is key.

Environmental regulations

The Missouri Department of Natural Resources oversees environmental standards. This department ensures that all development projects comply with regulations, laws and rules. They protect the state’s natural resources, including land, air and water. Environmental regulations ensure commercial projects are sustainable and safe. They maintain a balance by considering both economic development and environmental protection.

A company must follow the department’s guidelines when planning to build or develop a property in Missouri. For example, developers must dispose of waste properly during building projects. Furthermore, builders must take steps to prevent pollution. This often means reducing emissions and managing runoff. The department also reviews development plans to ensure they do not harm the environment or public health.

Benefits of ESAs

Around 60% of real estate firms struggle to meet environmental, social and governance guidelines. Many lack the necessary data to implement changes. An Environmental Site Assessment is a report prepared for a real estate holding that can identify potential or existing environmental contamination liabilities. These assessments help land developers follow regulations. A developer can address any potential issues on a property by conducting an ESA before beginning construction.

ESAs ensure that commercial development projects do not harm the environment. This helps maintain a sustainable and safe community. Examining the land’s history and current condition can also reveal hazardous materials, such as lead and asbestos. Finally, ESAs can help companies financially. By detecting issues early, developers can avoid costly remediation later.

Environmental compliance is an essential aspect of commercial real estate development. For developers, following regulations can lead to successful and responsible property development.