PFAS, Due Diligence, and Real Estate Development

PFAS, or Per and Polyflouroalkyl Substances, has become a “hot topic” for environmental groups and legislators and other stakeholders, lenders, and property owners. Increased scrutiny has funded more research indicating the overwhelming case that PFAS are indeed the “forever chemicals”. Scientists have identified traces of these chemicals in the blood of almost every person, animal, and waterway on our planet – yet, it is still relatively “unregulated”. With pending legislation in more than one-third of the states, PFAS is creating uncertainty for properties that are being acquired or being assessed for valuation. The recently updated ASTM standard has provided some well-needed standardization, but given the wide range of legislative positions, it is likely to remain an important topic for discussion among environmental consultants, regulators, developers, lenders and attorneys for some time.

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