Columbus 2021, LLC

Columbus, OH

Impaired real estate acquired property collage

61%

of private capital invested was distributed to local vendors

Case Study

From Environmental Liability to Successful Redevelopment

We buy properties other investors avoid, then take on the contamination, the regulatory uncertainty, and the entitlement work ourselves so the next owner inherits a clear path instead of a problem.

In Columbus, Ohio, we acquired a former zinc oxide smelter that had been sitting on decades of environmental and regulatory questions. 15 months later, the property was ready for a 624,000-square-foot Class A industrial complex.

Read the Full Case Study

Project Details

This project is 46.5 acres of land that was used as a zinc oxide smelter site for ASARCO. RESIGHT acquired this property and implemented a remedial plan to turn an old and ineffective treatment system into a new treatment plant. With the new plant in place, Ohio E.P.A. granted an NFA paving the way for development. The local developer, which purchased the site, plans to create a new manufacturing and warehouse facility. We are excited to see the future redevelopment of the property and grateful for the efforts of Ohio E.P.A., which helped us create a path for a blighted property to be transformed into a future employment center.
Aerial View - Asarco Columbus

Background

46.5-acre property used as a zinc oxide smelter which was closed in 1986 and sat vacant until RESIGHT’s purchase in 2021.

Our Solution

  • Enrollment into the Ohio E.P.A. Voluntary Action Program (VAP).
    Under the VAP, we demolished the old passive treatment system and installed an active pre-treatment water treatment system. Treated water is then discharged to the City of Columbus sanitary sewer.
    The system installed is intended to be temporary as the development of the property (a large building and paved parking lot) will create a hard cap across a majority of the property and substantially reduce the groundwater impacted area. The development and existing clay barrier wall will contain any remaining impacted groundwater within the property.

Challenges

Groundwater and stormwater contamination.

Impact

  • 15 months after our purchase, we returned the property to developable standards following several decades of the property sitting vacant.
    The proposed development plan will create hundreds of jobs in the neighboring community.
    Revitalization of northeast Columbus through private investment in a large central site.
    61% of the private capital spent on this project has been distributed to local vendors.

Have a complex property or deal?

Whether you’re trying to close a stalled transaction or exploring what an impaired property could become, we’d love to talk it through with you.

Get in touch