Transitioning Industrial Facilities into a New Life
Forsite Development acquires a wide range of industrial facilities and redevelops them into new uses, with a focus on environmental risk transfer and sustsainable redevelopment.
More Secure Closure
Less Risk for Sellers
Better Options for the Future
The Problem You Face
Legacy environmental conditions create an extreme challenge for repurposing many shuttered industrial facilities and coal fired power plants.
Transforming these shuttered facilities for their next life comes with an incredible amount of risk and uncertainty. Between shifting regulations, NGO’s, cost overruns and management distractions, the options may seem limited.
Attempting to handle the closure, cleanup, and transition yourself (or going with the lowest bidder) could leave you dealing with red tape and headaches for years.
As Close to As We Can Make It
For sites with legacy environmental conditions, “Cradle to Grave” liability makes it impossible to divest of all potential future liability. The potential for “boomerang sites” that come back to the original owners create a lot of uncertainty about the future. Although there’s no such thing as “zero risk” when it comes to divesting of these liabilities, Forsite is as close as it gets.
How We Lower Your Risk:
Collateralizing Our Indemnity
This means we indemnify you from future liabilities associated with the property and our work, which is collateralized with; insurance, escrow accounts, the valuable real estate and other financial instruments. Our Risk Transfer deal structure ensures we can’t transact on the real estate until we've done the job we've set out to do - and done it right.
Placing the Money in Escrow
When we purchase your facility, we don't hold on to the money. We place that money in an environmental escrow account with approvals on withdrawals based on project milestones. This means we don't have access to the money until we've done the job - and have it done right.
Insuring Our Work on Your Behalf
In addition to the other safeguards, we are able to provide specialized environmental insurance
as a back stop to our performance in dealing with the known conditions. This means (in the
highly unlikely instance) we drop the ball, you have access to insurance that pays for our non-
performance.
Three Divisions.
One Mission.
Our team is passionate about facilitating the energy transition for coal plants and recycling industrial facilities to provide more value for communities and the world.
Each of our three divisions provides immense value for facilities.
But the beauty is that they all work together.
Industrial Redevelopment
Environmental Solutions
Forsite Renewables
We Understand the Process
We understand the pressure you’re under as you face shuttering your facility. But we also see the future value of the assets, land, material, and connections.
What you may see as a liability, we see as an opportunity.
Sellers shouldn’t have to struggle through managing this process on their own while facing the immense risk that getting it wrong poses. Getting this wrong leaves you and the community you serve vulnerable to future risk. We know there’s a better way.
At Forsite Developments, we have the experience, track record, and systems to help you close down in a way that poses less risk, more security, and more confidence in the future.
In our years of doing this, we have hadback to the original owners.
Projects & Case Studies
Case Study: Clean Energy
Case Study: Consumers Energy – BC Cobb
Case Study: Consumers Energy – JR Whiting
CP Crane Generating Station
Here's How to
1. Schedule an Intake Call
On this call and the early project scoping, we will determine the best exist strategy for your facility and put together a plan and offer.
2. Make the Transaction
From here, the transaction is finalized and the money goes into an environmental escrow account pending milestones of the project.
3. Walk Away Confidently
Our zero-boomerang track record and the additional insurance we pull out on our work on your behalf means you can walk away knowing the property isn’t something you need to worry about anymore.