News & Analysis as of

Environmental Protection Agency (EPA) ASTM Real Estate Development

Farrell Fritz, P.C.

It’s Official! ASTM E1527-21 is the New Phase I Environmental Site Assessment Standard

Farrell Fritz, P.C. on

The Phase I Environmental Site Assessment (“ESA”) is the quintessential environmental diligence tool for transactions involving real property.  A Phase I ESA includes a site inspection and review of current and past uses and...more

Keating Muething & Klekamp PLL

New ASTM Standard Recognized by U.S. EPA for Phase I Reports

For transactions in 2023 and going forward, parties who purchase property will want to be aware of an update applicable to Phase I reports. By final rule issued on December 15, 2022, the U.S. Environmental Protection Agency...more

BCLP

Welcoming the New Year with EPA Revisions to the All Appropriate Inquiry Regulations

BCLP on

On December 15, 2022, the United States Environmental Protection Agency (“EPA”) published a final rule amending the Standards and Practices for All Appropriate Inquiries (“AAI”) to incorporate and adopt the American Society...more

Roetzel & Andress

EPA Approves New Standard For Phase I Environmental Site Assessments

Roetzel & Andress on

On December 14, U.S. EPA issued a final rule adopting ASTM Standard E1527-21 for conducting Phase I environmental site assessments. Real estate developers, lenders and investors, and all purchasers of commercial property...more

Brooks Pierce

Risk and Reward: Environmental Issues in Real Estate Development

Brooks Pierce on

Throughout 2021 and the first half of 2022, the commercial real estate market in the Southeast has been remarkably active. Despite rising interest rates and economic uncertainty, analysts expect this trend of high activity to...more

Levenfeld Pearlstein, LLC

ASTM Issues New Environmental Real Estate Due Diligence Phase I Standards for CERCLA Bona Fide Prospective Purchaser Defense

On November 1, 2021, the American Society for Testing and Materials (ASTM) Committee on Environmental Assessment, Risk Management and Corrective Action approved a new standard for conducting real estate due diligence Phase I...more

Holland & Knight LLP

ASTM Proposes Changes to Phase I ESA Standard (E1527)

Holland & Knight LLP on

Every eight years, ASTM International's standard-setting committees are required to reevaluate existing ASTM standards. The ASTM E1527-13 Standard Practice on Phase I Environmental Site Assessments (ESAs) is required to be...more

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