Redeveloping Contaminated Properties in Virginia: Managing Liability and Costs

Contaminated properties offer great opportunities for redevelopment – as long as liability and costs are properly managed. Recent changes in Virginia law and regulations have helped limit liability, save the Voluntary Remediation Program and add clarity on the handling of contaminated soils. Understanding these changes, and U.S. EPA’s new Phase I standard and vapor intrusion guidance, is important to anyone considering buying or redeveloping impaired sites. McGuireWoods partner Jim Thornhill, with more than 25 years of experience in this particular area, provided an overview of the current status of the law, practical tips for handling these projects, and ways to manage liability.