Real estate investors are increasingly interested in resiliency plans and management best practices regarding the ability of buildings and developments to withstand severe storms and other natural events.
Potential investors want to know about procedures for identifying, mitigating, and disclosing the risks posed by climate change and natural disasters. Investors care about maximizing rent by minimizing risks, and preventative measures are critical, writes Tony Liou, president of Partner Energy, Inc., a provider of energy efficiency consulting services.
Owners can reduce fire risk by cleaning detritus around buildings, and reduce flood damage by relocating mission critical equipment away from flood-prone areas. Such steps can minimize property downtime that would result from expensive and long repairs requiring the property to be vacated.
Owners should conduct an assessment to determine which mitigation measures to adopt based on costs and the business plan. Then they should analyze whether they have adequate insurance coverage for risks that are too costly to mitigate.
Related Stories
Codes and Standards | Apr 2, 2019
Open offices reduce collaboration among employees
Counterintuitive finding makes value of wide open workspaces questionable.
Codes and Standards | Mar 29, 2019
New timber traceability LEED credit released
Pilot credit aims to reduce use of illegal wood in buildings.
Codes and Standards | Mar 28, 2019
Swinerton forms new mass timber business group
Will pursue new projects being developed with mass timber.
Codes and Standards | Mar 27, 2019
Shortage of skilled construction workers resulting in missed deadlines
Some 40% of contractors have turned down project offers.
Codes and Standards | Mar 25, 2019
ICC release 2019 guidelines for safe use of repurposed shipping containers
Provides in-depth, technical overview on how to design, review, and approve shipping containers as building elements.
Codes and Standards | Mar 22, 2019
Tool helps cities develop framework for life-cycle energy policies and track progress
Identifies policies, funding sources to address building energy use.
Codes and Standards | Mar 21, 2019
New York City contractors adding 5% to 10% to construction costs due to trade war
Tariffs on steel, aluminum, and other materials swell budgets.
Codes and Standards | Mar 20, 2019
Codes organizations to develop new guidelines on shipping containers as building components
Intl. Code Council and Modular Building Institute combine forces.
Codes and Standards | Mar 19, 2019
Plan for transformation of Lower Manhattan streetscapes unveiled
Pedestrian-friendly “Slow Streets” pilot starts on Earth Day 2019.
Codes and Standards | Mar 15, 2019
Newly developed building materials could have big impact on sustainability
Transparent wood, self-cooling walls, bricks that filter air pollutants among the technological breakthroughs.