There was a story in the Record yesterday saying that the 401 service centre will be delayed at least a year because it needs an environmental cleanup. It happens a lot, more than you know, but when you see empty lots around Kitchener Waterloo you’ll notice that they are often former gas stations or factories. We are very strict in Ontario in regard to environmental cleanup. And it’s not cheap.
The Arrow Lofts were delayed about five years because of their environmental cleanup. Other projects have been kiboshed when inspections, surveys… have turned up the need for an environmental assessment.
For home buyers you should know that older properties and lots of country properties that had oil service in the past sometimes buried the oil tank beside the house and more often than not, those tanks leaked. I don’t know how expensive it is to clean this kind of concern up, but it should be addressed before making an offer.