flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

Climate change impacts could prompt realignment of assets for commercial property developers

Codes and Standards

Climate change impacts could prompt realignment of assets for commercial property developers

Strategies include reducing exposure to properties in flood-prone areas.


By Peter Fabris, Contributing Editor | October 3, 2018

The threat of rising sea levels could prompt commercial property developers and owners to reduce their assets in vulnerable areas, according to at least one prominent investment manager.

Owners of rental properties and other commercial real estate assets in coastal areas that face increased flood risk would be wise to adjust their portfolios over time, Marc Singer, co-founder of investment advisory firm Singer Xenos told GlobeSt. Taking this into account would mean selling properties in areas such as South Florida and directing new investments to areas less likely to suffer damage from the impacts of climate change.

Climate change should be taken seriously, as scientific evidence mounts indicating that significant coastal flooding will impact the real estate industry this century, Singer noted.

That doesn’t mean an immediate large-scale sell-off. Rather, a more gradual reduction of vulnerable properties over the coming decades would be prudent.

Recent studies have shown that a quarter of Boston could be underwater by 2045, and catastrophic flooding in New York City may become more common over the next few decades, he said. One impact within a decade might be a change in the way FEMA’s National Flood Insurance Program is administered to more realistically assess flood risk, resulting in higher premiums.

Related Stories

Codes and Standards | May 30, 2018

Silicon Valley cities considering taxes aimed at large employers

The aim is to offset the impact on housing costs and homelessness by tech companies.

Codes and Standards | May 30, 2018

OSHA proposes new crane operator safety rule

Would provide long-term clarity on certification requirements.

Codes and Standards | May 29, 2018

Government support helping to drive demand for green building materials

Market projects to grow 12.5% annually between 2013 and 2019.

Codes and Standards | May 24, 2018

‘Amazon tax’ could slow Seattle’s construction boom

City imposes employer head count tax to fund affordable housing.

Codes and Standards | May 23, 2018

AAMA releases 2017/2018 fenestration market studies

Offers forecasts of industry trends.

Codes and Standards | May 22, 2018

Registration open for 2018 National Energy Codes Conference

U.S. Department of Energy event to be held July 15th-17th in Austin.

Codes and Standards | May 21, 2018

New standard tests quietness of floors

ASTM International method will help manufacturers test their flooring materials.

Codes and Standards | May 17, 2018

California will require solar panels on most new homes

Projected to add $10,000 to cost of new homes.

Codes and Standards | May 16, 2018

New resources offer tips on off-site construction

NIBS documents address using pre-cast concrete, and commercial and legal considerations of modular construction.

Codes and Standards | May 15, 2018

Blast testing of loaded mass timber structures yields positive results

Four tests covered a spectrum of blast loads.

boombox1
boombox2
native1

More In Category

Warehouses

California bill would limit where distribution centers can be built

A bill that passed the California legislature would limit where distribution centers can be located and impose other rules aimed at reducing air pollution and traffic. Assembly Bill 98 would tighten building standards for new warehouses and ban heavy diesel truck traffic next to sensitive sites including homes, schools, parks and nursing homes.




halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021