
EnviroFinance Group, LLC has provided $11 million in financing for the remediation, infrastructure and site development of a 174,240-square-foot land parcel which housed a former manufactured gas plant in Honolulu, Hawaii.
Once developed, the four-acre land parcel will likely house an expansive retail center situated approximately 15-minutes from Pearl Harbor and adjacent to a lively retail district.
The borrower, Weston Solutions, Inc. (WESTON®) will take the contaminated parcel through an innovative in-situ chemical oxidation process removing the benzene contamination resulting from over 70 years of industrial operations. This process will eliminate the contamination without soil removal or exposure, allowing for reuse of the soil. This also limits additional risks involved with off-site transportation and saves valuable landfill space, which is limited on the island.
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