A city enjoying economic growth is a city where commercial real estate thrives. But you can only benefit from your property if you’re making an effort to attract tenants, buyers or investors. Sustainability and environmental regulation adherence have become cornerstones in measuring property value. They signal long-term viability, which is crucial to any investment.
In Tennessee, real estate owners and developers must comply with several environmental regulations. These regulations can significantly impact property development by imposing restrictions, liabilities and other requirements. Luckily, compliance boosts property and local industry competitiveness, which can outweigh initial concerns. Being familiar with these regulations isn’t just necessary for commercial real estate owners; it’s an edge.
Environmental regulations to consider
Tennessee’s environmental regulations address several factors, such as:
- Sustainable and safe building standards: Building codes set construction, renovation and maintenance standards. They ensure buildings withstand environmental changes, promote sustainable designs and materials and lower ecological impact.
- Energy efficiency: State energy codes set standards for insulation, lighting and other design aspects to cut energy use and emissions.
- Environmental permits: The Tennessee Department of Environment and Conservation (TDEC) requires permits for projects that may impact air quality, water quality and local natural resources.
- Hazardous materials: Different agencies ensure compliance with the proper handling and disposal of unsafe materials to prevent environmental contamination and ensure public safety.
- Solid waste management: Protocols for storing, transporting and disposing of construction waste also exist.
- Stormwater management: TDEC rules on stormwater management prevent erosion and control runoff from construction sites.
- Noise control: The Tennessee Division of Air Pollution Control regulates noise to limit disturbances caused by construction.
- Land disturbance: Owners and developers who want to clear or grade land over one acre must get a permit from the city or county.
- Wetlands protection: Projects near wetlands or other environmentally sensitive areas designated by the TDEC require additional permits.
- Endangered species: Projects that may affect endangered species or their habitats require review and approval from the U.S. Fish and Wildlife Service.
Environmental protection is inextricable from responsible commercial real estate. Following environmental regulations also prioritizes health and safety standards. Consulting an experienced real estate and construction law attorney is advisable to ensure you meet these regulations and other legal requirements while avoiding contract disputes.
