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Huge Multi-Use Project Underway at Former Claymont Steel Mill Site
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Photo: site of the former Evraz Steel Mill in Claymont, DE (450 acres)
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Plans for First State Crossing have evolved significantly since ELT announced plans to purchase and assume environmental liabilities at the former Evraz steel mill in 2015. CDC's latest concept includes 3.75 million square feet of new construction, breaking down to 2.09 million for residential (620 townhomes and 576 apartments), 844,000 for offices, 370,000 for industrial, 275,000 for office-industrial, 125,000 for a hotel (120 rooms) and 47,000 for retail.
There is also a new rail station in the works, and the retrofit of an existing building to provide substance-abuse treatment services.
Brett Saddler, executive director of the Claymont Renaissance Development Corp., believes First State Crossing offers "the largest economic development impact" of any project now under way in the state.
Additionally, a new train station, built on 15 acres donated by CDC, "changes the whole dynamic of what the steel mill site will be," Saddler said, making it attractive to commuters, particularly those working in Pennsylvania.
Catalyst for Redevelopment: ELT
Without the transfer of environmental liabilities, the Claymont Steel Mill was at risk to remain in a protracted state of decay and economic distress. Environmental Liability Transfer, Inc (ELT) was able to assume the liabilities and risks associated with the distressed asset, which in turn created a framework for accelerated cleanup and redevelopment. With the environmental condition quantified and effectively managed, the new owner/developer CDC was able to confidently invest into the site's redevelopment.
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JULY 2019
Brownfield Update
Huge Multi-Use Project Underway at Former Steel Mill Site
ELT Conference Calendar
Spring/Summer 2019
ELT Acquisition Criteria
Seeking to Purchase RE Assets and Assume Liabilities in All Sectors
PREVIOUS ELT
NEWSLETTERS
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ELT 2019 Conference Calendar
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If you are attending any of these events, please reach out to us so we can connect!
314-835-2813
jkowalik@cdcco.com
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ACQUISITION CRITERIA
Seeking Environmental Liabilities and/or Retired Real Estate Assets
If distressed real estate is impacting your operations, transactions, or balance sheet, please contact us for a confidential discussion.
ELT's core offering includes:
- Environmental Liability Transfers
- Brownfield Real Estate Purchase
- Liability Transfer + RE Purchase
- Guaranteed Cost Certainty
- Corporate Indemnification
- Maximum Value for Retired Assets
- Transfer of Regulatory Obligations
- Transfer of Post-Closure Obligations
- Sustainable Redevelopment Planning
- Sale / Leaseback Options
- Preservation of Legacy & Brand
Phone: 314-835-2813
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About Our Group
Environmental Liability Transfer, Inc. (ELT), along with four distinct affiliate companies under common ownership, have become one of the most impactful brownfield redevelopment and environmental remediation and consulting firms in North America.
By leveraging the core competencies of its affiliate partners, ELT now has the ability to consolidate multiple elements of brownfield redevelopment into ONE comprehensive value proposition - Real Estate Purchase, Environmental Liability Assumption, Fixed Price Environmental Remediation, Demolition, and Liquidation Services.
For more information on ELT or our affiliates, please visit our websites (right) or download ELT's
Brownfields Brochure.
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Contact Us
For more information about anything in this newsletter or to schedule a confidential discussion regarding your environmental liabilities or brownfield properties, please contact us.
John Kowalik
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