Ashley Capital seeks full‑site purchase of old Stuart landfill; commission declines brief extension to continue talks

Ashley Capital representatives told the City Commission on March 10 they have completed an initial round of environmental and geotechnical testing at the old City of Stuart landfill and want time to finish cost estimates and negotiation of a purchase that would allow remediation and redevelopment.

Jill Marasco and Mark Quimby of Ashley Capital explained the company’s surveys show landfill thickness varying from about 2 to 20 feet, elevated methane within the site and at the northwest property boundary, and contaminants consistent with a regional PFAS plume. Quimby said additional sampling requested by the Florida Department of Environmental Protection would likely cost about $125,000 and that ground‑improvement work (deep dynamic compaction, surcharging or rigid inclusions) would be required to support new buildings.

Nut graf: Ashley Capital said the closure and remediation burden — and a likely gap between remediation costs and the value developers can produce on the site — make the transaction financially complex. The company asked the commission for a due‑diligence extension through Sept. 30 so it could finalize costs and a purchase proposal; the motion to grant that extension failed for lack of a second.

City Manager Michael Mortel and Ashley Capital both warned the site carries a regulatory and financial burden even if the city retains it. Mortel told commissioners the city would still face landfill‑closure obligations and cited a rough closure estimate of $3–5 million for the landfill itself, exclusive of broader groundwater remediation tied to the regional PFAS issue. Ashley Capital’s representatives said an economic “gap” on the property could be in the millions of dollars and that state brownfield incentives alone were unlikely to close that difference.

Ashley Capital said it would prefer to acquire the entire 50‑acre parcel, not just a portion. The company also suggested potential swaps or leased options for staging hurricane debris at other nearby properties it controls, but said partial purchases are complicated because DEP examines landfill units in their entirety and closure obligations may extend beyond simple parcel lines.

Commissioners debated the tradeoffs. Several commissioners said they were sympathetic to the developers’ work but reluctant to cede city ownership of a large parcel that currently provides storage for hurricane debris and municipal operations. Commissioner Clark moved to grant the requested extension through Sept. 30 to allow negotiation and additional investigation; no commissioner seconded the motion, and it failed.

Ending: With the extension denied, Ashley Capital will not get the additional formal time it requested but may still engage privately with staff; the commission did not approve any sale terms or further city expenditures at the March 10 meeting.