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354-Unit Mixed-Use Development

Project # 60053

354-Unit Mixed-Use Development

VERTEX performed a Phase I ESA and Property Condition Assessment of a 5-story, 354-unit mixed-use development. Recently developed, the site is in a fast-growing area of the Dallas/Fort Worth Metroplex.

A team of VERTEX assessors observed each unit for its condition, the condition of sprinkler heads, and indications of moisture infiltration or visible mold growth. The assessment included a review of building systems (roof, HVAC, hot water, etc.) and development of cost projections for a 12-year ownership term. VERTEX also conducted an IR survey of the building exteriors to detect possible moisture infiltration and leaks in the building facades.

VERTEX also performed the site visitation and curbside assessment of neighboring properties, interviewed staff management and maintenance staff, reviewed public records available at municipal and state offices, and reviewed previous environmental reports and compliance documentation. VERTEX’s review identified an environmental concern and recommended additional assessment to reduce uncertainty regarding the potential for environmental impact to the site. VERTEX conducted an additional assessment, including groundwater, soil, and soil vapor sampling. The additional assessment provided greater confidence that the site had not been impacted. VERTEX completed the investigation and reports within budget.

To learn more about VERTEX’s Due Diligence services or to speak with an Environmental Expert, call 888.298.5162 or submit an inquiry.

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