A Florida law intended to prevent tragedies like the Surfside condominium collapse will place a huge financial burden on condo associations and strain architecture and engineering resources in the state.
The law requires that by the end of 2024 condominiums that are at least three stories tall and within 3 miles of the coast be inspected by a licensed engineer or architect when they are 25 years old and buildings more than 3 miles inland at 30 years old. The law will be financially burdensome for many associations, especially older ones.
Condo associations had been allowed to waive reserve funds for maintenance, but will now be required to have enough money in their reserves by 2025 to fund all repairs needed to maintain their buildings’ structural integrity. This work could easily run into the hundreds of thousands of dollars.
What’s more, thousands of condos will need to have inspections over a short period. It will be difficult, if not impossible, for architects and engineers to get to all that work done within the prescribed deadline.
The law applies to 1.5 million condos operated by nearly 28,000 associations. Some older properties in the most desirable coastal areas are expected to be targets for developers because owners will not be able to absorb the cost of capital assessments to make extensive repairs. Developers would demolish old properties and build new luxury properties on site.
Related Stories
Codes and Standards | Apr 10, 2017
Congressional hearing on skills gap includes look at construction industry
Strategies to boost ranks of construction workers include mentoring programs, increased safety measures, trade group support, and outreach to school counselors.
Codes and Standards | Apr 6, 2017
Product-specific EPDs seen as key aid to earning green building credits
The product-specific EPDs allow designers to more quickly earn a LEED v4 credit in the Materials & Resources category.
Codes and Standards | Apr 5, 2017
Updated AIA Disaster Assistance Handbook released with significant enhancements
Updates provide guidance on how design and construction pros and emergency managers can work together to prepare for and respond to disasters.
Codes and Standards | Apr 4, 2017
Global standards for indoor environmental monitoring under development
Systems and sensors guidelines will be aligned with major green standards.
Codes and Standards | Apr 3, 2017
New standard test method for static loading and impact on exterior shading released
The method provides a standard lab procedure evaluation of ice and snow loads and impacts.
Codes and Standards | Mar 30, 2017
WELL enters strategic partnership with developer of standards and assessment tools
GIGA’s RESET standard and data collection will be integrated into the WELL standard.
Codes and Standards | Mar 29, 2017
Climate-specific code changes target energy savings for tropical zones
Hawaii considers updated 2015 IECC tailored to its climate.
Codes and Standards | Mar 28, 2017
Safety concerns over wood-frame construction raised after Raleigh apartment fire
The unfinished building was destroyed in a five-alarm blaze.
Codes and Standards | Mar 27, 2017
Bills in Maryland Legislature would restrict use of wood in multifamily construction
American Wood Council and design and construction professionals are speaking out against the measure.
Codes and Standards | Mar 23, 2017
New manual of IT connectivity guidelines for commercial developments, redevelopments released
Mobile capacity planning, conduit points of entry, and electrical resiliency are covered.
