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
| Nov 27, 2013
ASTM issues revised standard on phase I environmental site assessments
ASTM has issued revised standard ASTM E1527-13 that governs phase I environmental site assessments.
| Nov 27, 2013
Vancouver, B.C., bans doorknobs in building code update
The goal of making it easier for people to age in place led to amendments to Vancouver, B.C.’s building code including banning doorknobs in favor of lever handles.
| Nov 22, 2013
Kieran Timberlake, PE International develop BIM tool for green building life cycle assessment
Kieran Timberlake and PE International have developed Tally, an analysis tool to help BIM users keep better score of their projects’ complete environmental footprints.
| Nov 20, 2013
WDMA receives final approval on code amendments
The Window and Door Manufacturers Association (WDMA) was granted final approval of several amendments it proposed to the 2015 editions of the International Residential Code (IRC), International Energy Conservation Code (IECC), and International Existing Building Code (IEBC).
| Nov 20, 2013
Safe Jobs Act would provide more protection for New York City construction workers
Legislation that would require safety training for construction workers on public projects in New York City has been introduced to the City Council.
| Nov 20, 2013
Boston officials grapple with impact of new FEMA flood maps
New federal maps for Boston significantly expand the number of homes and businesses in areas considered at high risk of flooding, a change that could force thousands of property owners to purchase expensive insurance and complicate redevelopment along the city’s waterfront.
| Nov 20, 2013
How LEED and Green Globes stack up
An analysis of the strengths and weaknesses of the Green Globes rating system and LEED standards puts LEED ahead, but doesn’t discount the merits of Green Globes.
| Nov 14, 2013
First LEED v4 certified project garnered by Beijing furniture showroom
Haworth’s showroom in Beijing’s Parkview Green building has been recognized as the world’s first certified LEED project under the USGBC’s new LEED version 4 beta program.
| Nov 14, 2013
OSHA proposes requirement for large firms to disclose workplace injuries
A proposal from the Occupational Safety and Health Administration would require companies with more than 250 employees to disclose workplace injury and illness reports online.
| Nov 14, 2013
GSA asks for input to help study energy-efficient technologies on its buildings
The General Services Administration has posted a request online, asking those in industry, academia and nonprofits for information on green building technologies.