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 | Nov 7, 2017
Underwriters Laboratories launches wellness certification
First certification program that verifies products’ compliance with the WELL Building Standard.
Codes and Standards | Nov 6, 2017
Registration now open for Canada’s first Zero Carbon Building (ZCB) program
Standard is designed to be applicable across many types of new and existing buildings.
Codes and Standards | Nov 6, 2017
AIA releases new architect commissioning document
It will be used with the standard form for owner/consultant contracts.
Codes and Standards | Nov 2, 2017
ASHRAE releases new version of Thermal Comfort Standard
Update includes calculations from direct solar radiation.
Codes and Standards | Nov 1, 2017
Drone users can now get instant authorization from FAA
Skyward offers app to receive permission for low altitude flights.
Codes and Standards | Oct 31, 2017
Real estate giant launches global tenant health and wellness certification initiative
Tishman Speyer will use Fitwel health certification system to guide building improvements.
Codes and Standards | Oct 30, 2017
AIA revises architect scope documents in latest contract form release
Design-bid-build forms last updated in 2007.
Codes and Standards | Oct 26, 2017
Boston’s Old South Church asks tower developer for $19 million for casting shade
Request highlights ongoing conflict between developers and residents over right to sunshine.
Codes and Standards | Oct 24, 2017
Asphalt roofing design guide now available in digital form
Recently updated Modified Bitumen Design Guide can be viewed on smartphones and tablets.
Codes and Standards | Oct 23, 2017
Energy efficiency investments on the rise; will increase next year
Survey of facility management executives shows onsite renewables, energy storage will spike in 2018.
