What is Verisite?
By Courtney Zaugg, CEcD, Plaka Associates
Published: April 19, 2019 by Verisite
Verisite is the result of a partnership that brings considerable industry experience. It is the combined expertise of three tenured firms that have designed and built the proprietary platform and process for Verisite site certification. Working together, these firms offer the unique and calculated perspective, expertise and experience for the Verisite Site Certification program. As a result, Verisite has finally established the universal definitions and designations for site certification, offering a new, trustworthy standard for property owners, developers and communities that utilizes a consistent and standardized set of criteria to determine all aspects of a site’s readiness for development.
Verisite has finally established the universal definitions and designations for site certification, oﬀering a new, trustworthy standard for property owners, developers, and communities. The Verisite program has been thoughtfully developed by a team of experienced site engineering evaluators, site selectors, and economic development professionals, and utilizes a consistent and standardized set of criteria to determine all aspects of a site’s readiness for development. Additionally, Verisite provides a gateway to certified sites nationwide, including:
Sites with existing buildings
Mega-sites (more than 1,000 acres)
While Verisite delivers detailed site reports along with its certification, the report and marketing tool is tailored to the respective state’s requirements (if applicable) so that it can be eligible for submission for certification within that state, as well as meeting the national Verisite standards.
Knowledge is Value
While many existing site certification programs offer basic due diligence and engineering reports, Verisite advances the next generation of marketing sites by considering numerous factors. For example, Verisite’s methodology will evaluate targeted site location and economic developer data points; include criteria which will cross state lines and align with respective states’ programs; investigate often overlooked assets such as brownfields and existing buildings; identify funding development; and offer a re-certification program to verify the on-going readiness of the site. This new level of consistent and confirmed data offers a new level of knowledge and assurance for both buyers and sellers, increasing the marketability of a site and streamlining transactions.
The Verisite Process
The Verisite certification process occurs in two incremental steps:
Determination: Communities, property owners, developers and/or economic development organizations submit sites and/or existing buildings for evaluation. Through a combination of on-site visits and a proprietary certification protocol, Verisite and associated partners will determine each site’s viability to obtain certification.
Certification: Communities, property owners, and/or economic development organizations submit more detailed information for site certification. Dual certification levels include Verisite Gold and Verisite Silver.
After a property is deemed certifiable, Verisite will submit its comprehensive report and supporting documents to the respective state agency responsible for certification if desired. Verisite can also navigate the agency approval process for its clients.
In addition, Verisite offers continued confidence in its certifications by ensuring that the basis for its initial determination and certification remain in effect through the Verification process:
Verification: All sites certified through the Verisite process will need to be re-verified every two years, a process that includes confirmation of local marketing eﬀorts and proof of property control, in order to maintain its current certification.
Setting a New Standard
In summary, the Verisite Site Certification program helps mitigate risk for developers and end users, increases speed to market, increases value, and heightens the marketability of a site and/or building. It also establishes the new national standard for site certification. Those in the real estate and construction industries should be looking to capitalize on new opportunities for development and redevelopment and consider the new factors driving corporate site selection decisions.
Read the next post in this series here
Learn more about Verisite