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Sunday, November 8, 2009

the most toxic cities in America

The most toxic cities in the US may be a bad place to live if you're thinking about raising a family, but they are great placed to be an environmental consultant.  So it's no surprise that Atlanta, Detroit, and Chicago top the list (as published by www.forbes.com).  You can also find a list created by Environmental Data Resources (www.edrnet.com) here.


Any way you look at it these cities have all been guided into development of compromised sites because, as my real estate friend tells me it's all about location, location, location.  Do you care if your condo was built on a previous gas station site that had a leaking tank, a former dry cleaner that has undergone intensive in-situ bio-remediation, or was a former landfill?



My friends, the answer is usually a resounding, "NO."  People, including myself, care about how far you are from transportation such as Washington, DC's METRO system or the "T" in Boston.  Call it transit-oriented development, call is convenience, call it being lazy.  As long as there is no clear and present danger the occupant doesn't care about history (and this is what lawyers can help with right?).

That is why people will pay market rate for a place to live based on location.

And why so many developers and banks (they usually have the cash) are willing to bet on and front the money for these developments.  Not to mention why developers, land owners, and prospective purchasers are willing to spend a significant amount of cash, in some cases, to clean up these sites and redevelop them.  Usually developers are handsomely rewarded for these efforts, but given the current lending environment who knows when the next project will begin...

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