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 | Oct 20, 2017
AIA contract document updates include new BIM, digital data provisions
Documents are structurally different from 2007, 2008 versions.
Codes and Standards | Oct 19, 2017
IAPMO seeks proposals for 2021 Uniform Plumbing Code, Uniform Mechanical Code
The deadline is March 16, 2018.
Codes and Standards | Oct 18, 2017
States impacted by hurricanes are improving their energy efficiency policies
Florida, Texas, rise in ACEEE state energy efficiency scorecard.
Codes and Standards | Oct 17, 2017
Updated versions of EnergyPlus and OpenStudio building energy modeling tools released
Open-source apps include enhancements for urban-scale modeling.
Codes and Standards | Oct 16, 2017
New, comprehensive insurance exhibit released in AIA 2017 contract document updates
Will allow AIA to make updates more frequently as insurance market changes.
Codes and Standards | Oct 12, 2017
New AIA contract document designates responsibilities for sustainable projects
Roles of architects, contractors outlined in E204–2017.
Codes and Standards | Oct 11, 2017
Data, transparency are keys to next steps in green building, says USGBC chief
Monitoring and comparing performance are critical to advancing sustainability goals.
Codes and Standards | Oct 10, 2017
New guidelines for quality control on application of membrane roof systems released
NRCA document provides guidance for on-site evaluation.
Codes and Standards | Oct 9, 2017
New app calculates maximum allowable heights for building occupancy types, classes of construction
The app streamlines compliance on various types of construction.
Codes and Standards | Oct 5, 2017
California lawmakers pass bill that requires GCs to pay wages of sub employees if subs fail to pay
The measure will go into effect in January if the governor signs it.