RRS Insures $22M San Francisco Project

Redevelopment Risk Services LLC (RRS), a business insurance brokerage specializing in environmental risk protection, has been selected to provide insurance services for the $22 million reclamation of the former Schlage Lock manufacturing facility in San Francisco.

This property and facility insurance enables the developer, Brownfield Partners LLC, to undertake the liability transfer, environmental remediation, demolition and site preparation of the blighted 13-acre Schlage site in the south section of The City along Highway 101 near Monster (formerly Candlestick) Park.

"Our ability to create and provision a complete environmental insurance package gave Brownfield Partners the ability to undertake the project as well as the confidence that their financial assets are protected during this complicated and multi-faceted environmental clean-up process," said Melanie Nesterenko, RRS partner.

Ultimately being developed into a 650-acre multi-family residential and commercial area by Universal Paragon Corporation, the former Schalge Lock property had fallen into disrepair as multiple attempts to reclaim the site had failed.