A Florida law intended to prevent tragedies like the Surfside condominium collapse will place a huge financial burden on condo associations and strain architecture and engineering resources in the state.
The law requires that by the end of 2024 condominiums that are at least three stories tall and within 3 miles of the coast be inspected by a licensed engineer or architect when they are 25 years old and buildings more than 3 miles inland at 30 years old. The law will be financially burdensome for many associations, especially older ones.
Condo associations had been allowed to waive reserve funds for maintenance, but will now be required to have enough money in their reserves by 2025 to fund all repairs needed to maintain their buildings’ structural integrity. This work could easily run into the hundreds of thousands of dollars.
What’s more, thousands of condos will need to have inspections over a short period. It will be difficult, if not impossible, for architects and engineers to get to all that work done within the prescribed deadline.
The law applies to 1.5 million condos operated by nearly 28,000 associations. Some older properties in the most desirable coastal areas are expected to be targets for developers because owners will not be able to absorb the cost of capital assessments to make extensive repairs. Developers would demolish old properties and build new luxury properties on site.
Related Stories
| Jun 28, 2012
Label for building products will have ‘global warming number’
The director of the 2030 Challenge for Products says that the organization is aiming to place a label on building products that will list what’s in it, and how much embodied carbon each product represents.
| Jun 28, 2012
Top building material executive urges building resilience in sustainability standards
A meeting of 1,000 business executives at the recent Rio+20 environmental conference featured a passionate plea to include building resilience in efforts to boost sustainability.
| Jun 28, 2012
Following spate of skyscraper balcony glass panel breakages, Ontario adopts code change
Ontario's housing minister announced new building code rules to help prevent glass panels from breaking off high-rise balconies during hot weather.
| Jun 28, 2012
Factory worker deaths in Italy raise questions on building codes after earthquakes
Italian officials are questioning seismic building standards and inspection procedures in the aftermath of two damaging earthquakes.
| Jun 21, 2012
Brazilian engineering/construction firm Odebrecht sues Florida over ban on companies doing business in Cuba
Odebrecht Construction Inc., a Brazilian engineering and construction company, is suing the State of Florida over a new law that bans governments from hiring companies with business ties to Cuba.
| Jun 21, 2012
String of shattered glass balcony panels prompts call for code reform in Ontario
Since last summer, glass balconies have shattered at 13 different buildings in Toronto.
| Jun 21, 2012
California adds window film to building code
California is the first state to add window film into its building code. Window film, a polymer material, offers cost-effective energy savings.
| Jun 21, 2012
New ISO standard to improve environmental management of concrete
A new ISO standard will help the construction industry better manage the environmental impacts of concrete.
| Jun 21, 2012
On net-zero projects, Building Teams will be held accountable for energy-efficiency performance
The building team will be held accountable for how net-zero energy buildings perform two, five, and maybe ten years after completion.