They feel the dirt hole could be worth at least 10 times that amount after it is leveled and prepared for a commercial development site. The land is currently zoned for industrial-warehouse development, according to the Broward County property appraiser's office. Pompano Beach is 60 miles north of Downtown Miami.

"Part of our operation continuously creates land by using construction and debris as fill," Patrick F. Marzano, Star Group president, says in a prepared statement. "As land becomes scarcer and development can't move further into the Everglades, filling burrow pits becomes a lucrative business."

Marzano says, "Once completed, the land will be worth considerably more because of its ideal commercial location. There will be time for us to determine the ultimate use of part or all of the new land being created. Because real estate values are so high in this area, there may be additional opportunities presented. We feel very comfortable about the value and the ultimate outcome for our shareholders."

The site is adjacent to a construction and demolition debris landfill that Star Services currently operates in this Broward County community. The two companies are reclaiming a parcel of land excavated for rock and sand used in construction foundation and roadbed work. Fill is now required to displace water-table seepage.

Copans Lakeview signed an agreement with a publicly traded company that provides solid-waste collection, transfer, disposal and recycling services to about 3,400 customers through Broward, Miami-Dade and Palm Beach counties. It operates 10 construction and demolition debris-processing facilities, two lake-fill operations and two waste collection and portable sanitation operations.

Instant Insights /

Trash Hauler, Pit Owner Betting 11-Acre Dirt Hole Will be Worth Millions as Development Site

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