AKD Real Estate Investments

August 30, 2021

By combining their business and environmental goals, these three firms partnered in Florida to address climate change and support their community by revitalizing a brownfield.

 

AKD Real Estate Investments, LLC (AKD) acquired a brownfields property to build a new Mitsubishi car dealership in West Palm Beach. AKD and Mitsubishi Motors, North America, considered the site because it offered existing infrastructure and prevented additional environmental degradation from building on undeveloped property, or Greenfield, increasingly scarce in south Florida. Brownfields are often centrally located in metro areas with good connections to local infrastructure, including roadways and stormwater utilities. National and state brownfields programs also offer grants and tax credits available to businesses with environmentally-friendly goals.

The property under consideration was on the former Servico Landfill operated by the City of West Palm Beach. Before the landfill closed, the City used it for landfilling municipal incinerator waste, medical waste, and garbage from the 1920s to the 1950s.

The Florida Brownfield Redevelopment Program encourages the redevelopment of potentially contaminated properties, following a careful process that includes environmental engineers and compliance specialists. AKD reached out to SCS Engineers, an environmental engineering and consulting firm specializing in landfills and remediation, to turn this property into a business haven.

SCS Senior Project Manager Kirk Blevins and Project Professional Sanaul Khan met with the AKD to review the dealership’s construction plan. “Understanding the client’s challenges and objectives, Kirk and I worked backward from their business goals and developed a plan to achieve their environmental needs in a way that would minimize delays and conflicts with their construction schedule,” stated Khan.

The team went to work performing environmental due diligence by uncovering records to assess the state of the property. Next, they modified the existing Remedial Action Plan by proposing a cost-effective and practical strategy to address specific environmental concerns.

The Plan is useful to inform regulators and environmental agencies before construction begins. It helps ensure the general contractor is aware and responsible for keeping construction on track and adhering to the remedial strategy, including environmental and safety protocols.

SCS also prepared and submitted all certification documents to be reviewed, approved, and recorded before the dealership’s grand opening while preparing an application to receive Voluntary Cleanup Tax Credits.

“Brownfields remediation is a complex process, but it offers benefits to businesses, investors, and most importantly – the community,” says Blevins.

The Palm Beach Mitsubishi dealership is open for business. Shown here at the opening are Sanaul Khan (left), President and CEO of Mitsubishi Motors North America, Yoichi Yokozawa (center), and Chris Berian of AKD (right).

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Posted by Diane Samuels at 6:00 am