Humber/Ontario Real Estate Course 3 Exam Practice

For a vacant commercial site development, what does a Phase 1 site assessment involve?

1. One of four types of assessments used in the marketplace

2. Emphasizes testing to assess environmental problems

3. Details remedial steps and costs

4. Emphasizes visual inspection and review of owner documents

5. Includes detailed soil testing

6. Focuses on financial feasibility

The correct answer is: Emphasizes visual inspection and review of owner documents

A Phase 1 site assessment is conducted to evaluate the environmental conditions of a commercial site before development. This assessment primarily involves a comprehensive visual inspection of the property and an examination of historical and current ownership records, as well as other relevant documents. It aims to identify any potential environmental hazards or contamination on the site based on existing information and visual cues. The focus on review of owner documents is critical because it provides insights into the site's past usage, which helps determine if further investigation or testing is necessary. This assessment does not involve intrusive methods such as soil testing or remedial planning, which are instead part of subsequent phases if the Phase 1 assessment indicates potential issues. Such elements are not the purpose of the Phase 1 assessment, highlighting why the emphasis is correctly placed on visual inspection and documentation review.