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 | Dec 18, 2019
Hard Rock Hotel collapse in New Orleans puts spotlight on undocumented workers
Having helped rebuild the city after Hurricane Katrina, many under threat of deportation.
Codes and Standards | Dec 18, 2019
Maryland lawmakers take on blocked sidewalks during construction projects
Legislation clarifies developers’ responsibilities.
Codes and Standards | Dec 18, 2019
New York City passes legislation to prevent bird strikes on buildings
Requires bird-safe materials on first 75 feet of a structure.
Codes and Standards | Dec 16, 2019
New Buildings Institute seeks entries for Zero Buildings Database
Listing illustrates feasibility of ultra low-energy buildings.
Codes and Standards | Dec 13, 2019
USGBC launches new tool to prioritize sustainability strategies
Highlights building design features that can lead to better performance.
Codes and Standards | Dec 12, 2019
Coalition calls for consistent building data disclosure regulations in Canada
Major real estate firms are driving the effort.
Codes and Standards | Dec 10, 2019
Utilities rolling out more grid-interactive efficient building programs
Focus is on energy savings and demand flexibility.
Codes and Standards | Dec 9, 2019
Canada’s Zero Carbon Building Standard reports first 10 certifications
Projects include new and existing offices, schools, and warehouses.
Codes and Standards | Dec 6, 2019
New research examines flood mitigation policies in the U.S.
Thirteen states or cities have adopted effective measures; some restricting development in vulnerable areas.
Codes and Standards | Dec 5, 2019
USGBC unveils vision for LEED Positive
Roadmap will lay foundation for a future LEED that is regenerative.