[CPEO-BIF] Former steel plant, Claymont, Delaware

[Lenny Siegel <lsiegel@cpeo.org>]

News Release
Commercial Development Company
February 10, 2015

Commercial Development Company, Inc. Purchases 425-Acre Shuttered  
Steel Mill in Claymont Delaware, Plans Environmental Remediation &  
Redevelopment


ST. LOUIS--(BUSINESS WIRE)--Commercial Development Company Inc.  
(CDC), a leading North American commercial real estate and brownfield  
redevelopment company, today announced the acquisition of a 425-acre,  
environmentally-distressed, former steel mill in Claymont, Delaware  
from steel manufacturer Evraz. CDC and Environmental Liability  
Transfer, Inc. (ELT), an affiliate of CDC, have assumed  
responsibility for legacy environmental liabilities associated with  
the site and its former operators.

For nearly a century, this facility was home to steel manufacturing  
operations for rail, infrastructure and other industrial  
applications. The property was acquired by Evraz in 2007, and  
continued operations until 2013 when it closed its doors due to  
economic reasons and began searching for a buyer. As a result of  
decades of steel manufacturing, the site’s ground contamination and  
environmental hazards prohibited a traditional real estate  
transaction. An environmental liability transfer and remediation plan  
proposed by CDC has enabled Evraz the ability to sell surplus real  
estate and also transfer legacy environmental liabilities.


...

For the entire release, see
http://www.businesswire.com/news/home/20150210006189/en/Commercial- 
Development-Company-Purchases-425-Acre-Shuttered-Steel

--

Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org

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