As real estate costs in the tri-state area continue to rise, owners and developers are continually searching for ways to better handle a price tag that can quickly run over budget, particularly when it comes to environmental cleanups. Those looking for a way to address their property’s environmental cleanup needs with peace of mind in their expenses can turn to SECUR-IT®, a fixed-price remediation program managed by EWMA, an environmental consulting and remediation firm.
“Time and cost are the two most important metrics in real estate development,” said Donald W. Richardson, CPG, President, EWMA. “Unfortunately, the unpredictable nature of environmental cleanups can mean that both factors can be overrun in the blink of an eye. That’s why we created SECUR-IT®, so developers are provided assurance that their property’s environmental cleanup will go as planned, on time and on budget.”
Historically, environmental remediation is a costly
process that can be difficult to control, leading to budget overruns and
lengthy, uncertain project timelines. Through the SECUR-IT® program, the scope
and cost of cleanup are predetermined before work begins. Moreover, SECUR-IT®
offers guaranteed fixed project scopes with a predetermined length of
remediation, enabling more accurate estimates of return on investment. EWMA’s
20-year program is unique in the industry with the level of project controls it
provides to its clients.
All the components roll up to an overall guaranteed cleanup cost that have built-in cost and time milestone incentives for EWMA to land the project under the guarantee.
“For more than 20 years, SECUR-IT® has introduced predictability into the environmental remediation process,” said Michael Sylvester, Executive Vice President, EWMA. “Uncertainty is the bane of any business, and in real estate, no one can afford to play guessing games when it comes to remediation projects. EWMA takes the guesswork out of the equation and provides guarantees of when the cleanup will get done and how much it will cost.”
According to Richardson, clients choose SECUR-IT® because it provides
the predictability and time and costs certainty to cleanups. The program also facilitates
the resolution of business-driven challenges, such as property contamination,
real estate transactions, and insurance policies.
“For some, environmental cleanup can be scary – it’s not a topic that’s widely understood, even though it’s extremely important for successful real estate development on a contaminated property,” Richardson said. “Through a clear breakdown of cleanup, scope, schedule, and budget, real estate developers can properly and accurately estimate a return on investment.”
SECUR-IT® is a single contract for the cleanup of known contaminants that integrates client-controlled environmental insurance for unknowns. Once remediation is complete, SECUR-IT® provides an option for long-term post-remediation care for years after the cleanup is complete, including recertifications, select repairs, and insurance coverage.
“With our program, you’ll not only have a competitive edge in your property development but peace of mind that your remediation project will get done on time and within budget,” added Richardson.