ENVIRONMENTAL APPRAISAL CONSULTATIONS

Appraising contaminated real estate requires broad knowledge of several fields outside typical real estate, including state and federal environmental law, insurance and liability issues, public perceptions of health risks, chemistry and biology. It also requires the ability to work in tandem with lawyers, biochemical engineers, and other professionals.

Few firms have the knowledge and experience to evaluate contaminated properties. Fewer still can produce the kind of research and analysis that holds up in court. Austin Valuation Consultants has that knowledge and experience, and we stake our reputation on providing accurate and reliable appraisals of real estate.

Our experience ranges from residences to industrial facilities to Superfund sites. Below are examples of AVC's environmental consulting assignments.
AIR, SOIL AND GROUNDWATER CONTAMINATION

Southeast Texas - Impaired and unimpaired value estimates of four single family residences. The groundwater and potable water wells on these properties were contaminated with benzene and chlorides from saltwater disposal wells used in oilfield operations. The full extent of the contamination and the time needed to remediate it were undetermined, and the assignment included analysis of property values assuming alternate sources of drinking water.

Northeast Texas - Appraisal of houses near a Texas Superfund site for a class action lawsuit. The point source was a property that manufactured arsenic acid, a cotton defoliant, from the early 1950s until the early 1970s. Wastewater and contaminated soil stored at the facility had seeped into the groundwater onto adjacent properties and into a nearby creek. The contamination affected 120 homes and 200 acres of land.
Fort Worth, Texas - Appraisal of a multi-tenant retail building. Gasoline leakage from underground storage tanks on the site had contaminated the groundwater. Contamination was first discovered in 1988; eleven years the site still had not been cleaned to the satisfaction of state authorities. Assignment included estimate of pre-remediation and post-remediation real property damages.
Clear Lake, Texas - Appraisal of a science laboratory. Trichroloethylene concentrations in the soil and groundwater on the site measured up to 80 parts per million. Property also was adjacent to a bayou. Cross contamination with other properties had occurred. Assignment included estimate of pre-remediation and post-remediation real property damages.
South Texas - Climate-controlled produce warehouse near the Texas/Mexico border. The site had once been used as a way station for 55-gallon drums containing sludge materials contaminated with lead, copper, and other heavy metals. Leakage from the drums contaminated nearby soils. AVC estimated post-remediation damages under a variety of cleanup scenarios.

Laredo, Texas - Appraisal of a prime commercial tract in Laredo. Petroleum products from an adjacent government-owned facility had contaminated the soils. The contamination rendered a portion of the property useless and compromised the highest and best use of the entire site.

Dallas, Texas - Appraisal of a storage warehouse and food processing center. Property had been employed in a variety of uses over the years and had acid tanks, oil/water separators, underground storage tanks and above-ground chemical storage tanks on the premises. The brownfield property was intended for contribution to a non-profit organization that planned to remediate the property and rehabilitate it under the recently passed Municipal Setting Designation.
Odessa, Texas - Several residences near a petrochemical complex near a facility cited for hundreds of violations of the Texas Clean Air Act. The facility had exposed the neighborhood to near-constant air exposure to styrenes, butylenes, sulfur dioxide, hydrogen sulfide, and other chemicals. This assignment included estimates of unimpaired and impaired property values.
Palestine, Texas - Appraisal of two rural, vacant tracts with a gas pipeline running through them. Releases from the pipelines contaminated soils on the properties, and ongoing, long-term remediation efforts required the use of portions of the properties near the pipeline. Consultation involved estimates of permanent loss of value and loss of use during a 30-year remediation process.
Houston, Texas - Appraisal of a large apartment complex in west Houston contaminated with leakage from underground storage tanks on an adjacent gasoline service station.
South Texas - Retail store and gymnasium adjacent to a gasoline service station with leaking underground petroleum storage tanks. Leakage from the tanks had contaminated the surrounding groundwater ands threatened to contaminate potable water wells. This assignment included estimates of unimpaired and impaired property values.
Austin, Texas - Estimates of post-remediation value and damages for a rehabilitated apartment complex. The apartments were constructed in the 1980s over a former landfill. Methane seeped up from the landfill and collected in several units, threatening explosion. The apartments were evacuated and abandoned for several years. Groundbreaking legislature permitted redevelopment of the apartments. For further information, please read an article AVC published in the Appraisal Journal, "Watersbend: Appraising a Brownfield Redevelopment Project."
San Antonio, Texas - Appraisal of a cattle ranch adjacent to a battery-manufacturing plant. Emission contaminated with lead emanated from the plant and settled onto the ranch, and cattle died from ingesting lead-contaminated soil and feed.
Austin, Texas - Estimates of property damages to over 70 residences and commercial properties near a now-closed petroleum "tank farm." Gasoline and gas additives had leaked into the soil and groundwater over a period of thirty years. Homes were also affected by gasoline fumes while the facility operated.
MOLD CONTAMINATION

Austin, Texas - Mid-rise downtown office building suffering from reduced rents and occupancy levels due to mold contamination. Assignment involved estimates of value had the property not been contaminated and assessment of economic damages from construction defects.
Austin, Texas - Residential condominium complex with mold contamination caused by construction defects. Property required $5 million in repairs. Consultation included estimates of real property damages and a review of opposing side's appraisal.
Austin, Texas - Multi-million dollar residence contaminated so badly with mold that it required demolition down to the slab. Assignment involved estimate of post-demolition stigma.
Austin, Texas - Luxury residence affected by mold contamination after a water used to extinguish a fire penetrated the house. This consultation included estimates of value as if unimpaired and assessment of pre-remediation damages.
ASBESTOS CONTAMINATION

New Braunfels, Texas - Appraisal of a 100-year-old, 115' tall, abandoned power plant. AVC appraised the property assuming its conversion to commercial use; options included loft-style apartments, condominiums, a hotel/resort, and offices. The building was architecturally fascinating but presented a variety of problems for conversion such as extensive asbestos, lead and PCB contamination, flooded subfloors, rodent infestation, and a variety of heavy equipment dispersed throughout the premises and on the roof. Environmental remediation alone cost $9 million.
Houston, Texas - Technical appraisal review and expert testimony concerning diminution in property value of a former asbestos-manufacturing plant alleged to be contaminated with asbestos-containing materials.
Austin, Texas - Appraisal of a U.S. post office contaminated with asbestos. AVC estimated the value of the property with and without contamination.