When it comes to site selection for new real estate properties, the presence of ground disturbances like old mines, fault lines or flood plains can be a major stumbling block. This might create a barrier to entry for potential developers who cannot justify the costs associated with these sites until they know for certain that there won’t be any unexpected problems. On the other hand, if a developer can find a site with these issues already resolved, they could have a major advantage over their competitors. In this article we look at some examples of sites where there was already a visible problem and discuss how developers dealt with the situation. In some cases it was possible to resolve the issue and make the site usable, but in others the only solution was to abandon the project entirely. In any case, the experience can teach developers a lot about what might go wrong on future sites and how to avoid it in the future.
Deep-Water Well Construction
A deep-water well is a borehole that goes down more than 100 meters below the surface of the earth and is used to extract natural resources like water or oil from underground. In some parts of the world, like parts of the US Deep South, there are very few surface water sources and people resort to deep-water wells as a source of freshwater. These wells are very expensive to construct and need to be properly protected in order to avoid contamination. However, many companies are failing to secure the rights to build these wells on land that they own, which means that companies cannot start construction until they find a way to resolve the issue.
Mining Disasters
In some parts of the world there are old mines that were abandoned decades ago and are now heavily polluted. Some of these mines have been turned into tourist attractions, but many others are simply left abandoned. In some cases the mining companies are still in operation and will continue working until they find a way to clean up the pollution or until they can find another source of minerals. In other cases the mines have been completely abandoned and the property has been left to rot away. In some cases these properties have become valuable sites for companies looking for land to build new facilities, while in others they have been purchased by new owners who have had to clean up the pollution before they can use the properties.
Coastal Development
If a developer decides to build a new property on a coastline they will have to navigate a number of issues, including the presence of an estuary, a river or a lake that might be subject to water restrictions, and the possibility that the coastline might be subject to erosion. These issues might make it difficult to get a permit for the project or they might create conditions where the developer has to spend more money than expected to build a site that can withstand the forces of the sea. In some cases, the developer might decide to abandon the project altogether.
Conclusion
The examples discussed in this article highlight the fact that no site is ever truly perfect. A developer needs to be able to find a way to deal with problems like old mines, flood plains and underground water wells. If a developer can find a site with these problems already resolved, it has a clear advantage over its competitors. That being said, it can also be costly to resolve past problems, and it might not always be possible to make a particular site usable. In those cases the developer might decide to abandon the project or find another site.