Garden City Plaza
Big Challenges Need Big Solutions
Treeline owns the four buildings within Garden City Plaza, but getting to that point proved to be quite the challenge. A military base and airport were previously located adjacent to the Garden City Plaza property; over time, the site became polluted due to the emissions from those former operations. The Environmental Protection Agency had designated the property a Superfund Site, adding to the challenging acquisition and development of this property.
For years, developers had passed up the opportunities within this property due to these environmental concerns. Our innovation and creative problem-solving allowed Treeline to show a willingness uncommon for other investors and developers. After a complex series of conversations and negotiations, we worked with the necessary government agencies to prevent the continued dismissal of this property while also creating an opportunity for the surrounding ecosystem to begin to heal.
What We Did
By The Numbers
average occupancy over ownership period
- The site was located beside a former military base and airport and had become polluted over time, receiving a superfund site designation
- Due to environmental pollution and superfund designation, banks were reluctant to lend for the acquisition and development of the space
- Many other developers passed on the property due to these concerns
- Negotiated a prospective purchase agreement with the Environmental Protection Agency (EPA)
- Treeline was approved to purchase the property at a fair price, while committing to a development plan that would avoid future site pollution
- Worked directly with the EPA to put in a treatment facility next to the property to eliminate old environmental hazards