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
| Jan 5, 2012
Some ADA accessibility rules change in 2012
Some changes to the Americans with Disabilities Act go into effect beginning March 15, 2012.
| Jan 5, 2012
Ontario's stringent energy code has builders concerned over indoor air quality
Some Ontario builders are worried that new building code requirements with stricter energy efficiency measures could lead to poor indoor air quality.
| Jan 5, 2012
New law bars Defense Department from new LEED certifications
The Defense Department will not be allowed to use any money to certify its buildings LEED Gold or Platinum, under a law President Obama signed Dec. 31.
| Jan 5, 2012
Some ADA accessibility rules change in 2012
Some changes to the Americans with Disabilities Act go into effect beginning March 15, 2012.
| Jan 3, 2012
New SJI Rule on Steel Joists
A new rule from the Steel Joist Institute clarifies when local reinforcement of joists is required for chord loads away from panel points. SJI members offer guidance about how and when to specify loads.
| Dec 29, 2011
OSHA enforcing new fall hazard standards
OSHA is enforcing its new fall protection standards, as evidenced by a recent crackdown in New York.
| Dec 29, 2011
NRCA offers program on new fall-protection requirements
The National Roofing Contractors Association's (NRCA's) program "Roofing Industry Fall Protection from A to Z" will be held Feb. 21 during the organization's 125th Annual Convention.
| Dec 29, 2011
Decision not to fireproof the new World Trade Center Transportation Hub criticized
Some criticized the decision, reasoning that the structure could be a terrorist target.
| Dec 29, 2011
Seismic safety in question at thousands of California public schools
California regulators responsible for enforcing earthquake safety laws have failed to certify more than 16,000 construction projects in California public schools, increasing the risk that some projects may be unsafe, according to a state audit report.
| Dec 29, 2011
GreenWizard offers cloud-based LEED credit management, assessment
The company recently began offering companies the ability to run assessments for design credits, in addition to traditional product-specific LEED credits.
